Total monthly cost of ownership
Cost to Own a Home in Lake Charles, Louisiana
A $204,000 home here costs
$1,763per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $75,500 a year.
A standard mortgage calculator would have told you $1,130. The real number is $633 higher every month, 56% more than the payment most buyers budget for.
Compare Calcasieu 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.
Lake Charles against Calcasieu Parish and Louisiana
| Measure | Lake Charles | Calcasieu Parish |
|---|---|---|
| Median home value | $204,000 | $208,500 |
| Median property tax | $692 | $926 |
| Effective tax rate | 0.339% | 0.444% |
| Median gross rent | $1,090 | $1,096 |
| Population | 81,679 | 208,668 |
The weather behind that power bill
Lake Charles sits in Calcasieu Parish, which averages a high of 92.8°F in its hottest month and a low of 43.4°F in its coldest, with 59.75" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 3,063 cooling and 1,315 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Calcasieu Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Calcasieu Parish
Full Calcasieu Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Lake Charles 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 Lake Charles every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lake Charles I already own here and may sell
Common questions
How much does it cost to own a home in Lake Charles?
A $204,000 home in Lake Charles, Louisiana costs approximately $1,763 per month with 20% down at 7.4%. That is $1,130 principal and interest, $58 property tax, $184 homeowners insurance, $221 utilities and $170 set aside for maintenance.
What is the property tax rate in Lake Charles?
Lake Charles has an effective property tax rate of 0.339%, based on a median home value of $204,000 and median real estate taxes of $692. That is lower than the Calcasieu Parish average of 0.444%.
What is the average home price in Lake Charles?
The median owner-occupied home value in Lake Charles, Louisiana is $204,000, against $208,500 across Calcasieu Parish.
Is it cheaper to rent or buy in Lake Charles?
Median gross rent in Lake Charles is $1,090 a month, against $1,763 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 Lake Charles?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lake Charles, Louisiana at today's rate takes a household income of roughly $75,500 a year. That covers the full $1,763 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Charles, 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.