Total monthly cost of ownership
Cost to Own a Home in Minorca, Louisiana
A $54,000 home here costs
$627per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $278. The real number is $349 higher every month — 126% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Minorca against Concordia Parish and Louisiana
| Measure | Minorca | Concordia Parish |
|---|---|---|
| Median home value | $53,600 | $102,400 |
| Median property tax | $717 | $393 |
| Effective tax rate | 1.338% | 0.384% |
| Median gross rent | $623 | $774 |
| Population | 1,615 | 18,325 |
The weather behind that power bill
Minorca sits in Concordia Parish, which averages a high of 90.7°F in its hottest month and a low of 37.3°F in its coldest, with 59.55" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,289 cooling and 2,185 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Concordia Parish — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Concordia Parish
Full Concordia Parish cost breakdown · Every county in Louisiana
Common questions
How much does it cost to own a home in Minorca?
A $54,000 home in Minorca, Louisiana costs approximately $627 per month with 20% down at 6.66%. That is $278 principal and interest, $60 property tax, $49 homeowners insurance, $195 utilities and $45 set aside for maintenance.
What is the property tax rate in Minorca?
Minorca has an effective property tax rate of 1.338%, based on a median home value of $53,600 and median real estate taxes of $717. That is higher than the Concordia Parish average of 0.384%.
What is the average home price in Minorca?
The median owner-occupied home value in Minorca, Louisiana is $53,600, against $102,400 across Concordia Parish.
Is it cheaper to rent or buy in Minorca?
Median gross rent in Minorca is $623 a month, against $627 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Minorca — 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.