Total monthly cost of ownership
Cost to Own a Home in Houma, Louisiana
A $208,000 home here costs
$1,786per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $76,500 a year.
A standard mortgage calculator would have told you $1,134. The real number is $652 higher every month, 57% more than the payment most buyers budget for.
Compare Terrebonne Parish with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Houma against Terrebonne Parish and Louisiana
| Measure | Houma | Terrebonne Parish |
|---|---|---|
| Median home value | $207,900 | $189,100 |
| Median property tax | $813 | $852 |
| Effective tax rate | 0.391% | 0.451% |
| Median gross rent | $1,011 | $1,010 |
| Population | 32,760 | 107,362 |
The weather behind that power bill
Houma sits in Terrebonne Parish, which averages a high of 91.4°F in its hottest month and a low of 43.5°F in its coldest, with 65.42" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 2,969 cooling and 1,250 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Terrebonne Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Terrebonne Parish
Full Terrebonne Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Houma averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Houma every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Houma?
A $208,000 home in Houma, Louisiana costs approximately $1,786 per month with 20% down at 7.24%. That is $1,134 principal and interest, $68 property tax, $188 homeowners insurance, $223 utilities and $173 set aside for maintenance.
What is the property tax rate in Houma?
Houma has an effective property tax rate of 0.391%, based on a median home value of $207,900 and median real estate taxes of $813. That is lower than the Terrebonne Parish average of 0.451%.
What is the average home price in Houma?
The median owner-occupied home value in Houma, Louisiana is $207,900, against $189,100 across Terrebonne Parish.
Is it cheaper to rent or buy in Houma?
Median gross rent in Houma is $1,011 a month, against $1,786 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Houma?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Houma, Louisiana at today's rate takes a household income of roughly $76,500 a year. That covers the full $1,786 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Houma, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Louisiana.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.