Total monthly cost of ownership
Cost to Own a Home in Lake Providence, Louisiana
A $75,000 home here costs
$779per 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 $33,500 a year.
A standard mortgage calculator would have told you $409. The real number is $370 higher every month, 91% more than the payment most buyers budget for.
Compare East Carroll Parish with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lake Providence from a five-year rolling sample, and with about 3,424 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The East Carroll Parish figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lake Providence against East Carroll Parish and Louisiana
| Measure | Lake Providence | East Carroll Parish |
|---|---|---|
| Median home value | $75,200 | $87,400 |
| Median property tax | $210 | $251 |
| Effective tax rate | 0.279% | 0.287% |
| Median gross rent | $762 | $767 |
| Population | 3,424 | 7,195 |
The weather behind that power bill
Lake Providence sits in East Carroll Parish, which averages a high of 91.2°F in its hottest month and a low of 35.8°F in its coldest, with 58.79" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,346 cooling and 2,474 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for East Carroll Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in East Carroll Parish
No other places of this size are published in East Carroll Parish.
Full East Carroll Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Lake Providence 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 Providence every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lake Providence I already own here and may sell
Common questions
How much does it cost to own a home in Lake Providence?
A $75,000 home in Lake Providence, Louisiana costs approximately $779 per month with 20% down at 7.24%. That is $409 principal and interest, $17 property tax, $68 homeowners insurance, $223 utilities and $63 set aside for maintenance.
What is the property tax rate in Lake Providence?
Lake Providence has an effective property tax rate of 0.279%, based on a median home value of $75,200 and median real estate taxes of $210. That is in line with the East Carroll Parish average of 0.287%.
What is the average home price in Lake Providence?
The median owner-occupied home value in Lake Providence, Louisiana is $75,200, against $87,400 across East Carroll Parish.
Is it cheaper to rent or buy in Lake Providence?
Median gross rent in Lake Providence is $762 a month, against $779 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 Providence?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lake Providence, Louisiana at today's rate takes a household income of roughly $33,500 a year. That covers the full $779 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Providence, 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.