Total monthly cost of ownership
Cost to Own a Home in Merrydale, Louisiana
A $124,000 home here costs
$1,180per 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 $50,500 a year.
A standard mortgage calculator would have told you $676. The real number is $504 higher every month, 75% more than the payment most buyers budget for.
Compare East Baton Rouge 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.
Merrydale against East Baton Rouge Parish and Louisiana
| Measure | Merrydale | East Baton Rouge Parish |
|---|---|---|
| Median home value | $124,300 | $241,800 |
| Median property tax | — | $1,547 |
| Effective tax rate | 0.640% | 0.640% |
| Median gross rent | $1,187 | $1,121 |
| Population | 9,149 | 452,821 |
The weather behind that power bill
Merrydale sits in East Baton Rouge Parish, which averages a high of 92.2°F in its hottest month and a low of 41.6°F in its coldest, with 61.94" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,818 cooling and 1,534 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for East Baton Rouge Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in East Baton Rouge Parish
Full East Baton Rouge Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Merrydale 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 Merrydale every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Merrydale I already own here and may sell
Common questions
How much does it cost to own a home in Merrydale?
A $124,000 home in Merrydale, Louisiana costs approximately $1,180 per month with 20% down at 7.24%. That is $676 principal and interest, $66 property tax, $112 homeowners insurance, $223 utilities and $103 set aside for maintenance.
What is the property tax rate in Merrydale?
Place-level tax data is not published for Merrydale, so the East Baton Rouge Parish rate of 0.640% applies here.
What is the average home price in Merrydale?
The median owner-occupied home value in Merrydale, Louisiana is $124,300, against $241,800 across East Baton Rouge Parish.
Is it cheaper to rent or buy in Merrydale?
Median gross rent in Merrydale is $1,187 a month, against $1,180 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Merrydale?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Merrydale, Louisiana at today's rate takes a household income of roughly $50,500 a year. That covers the full $1,180 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Merrydale, 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.