Total monthly cost of ownership
Cost to Own a Home in Morgan City, Louisiana
A $146,000 home here costs
$1,238per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $751. The real number is $487 higher every month — 65% 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.
Morgan City against St. Martin Parish and Louisiana
| Measure | Morgan City | St. Martin Parish |
|---|---|---|
| Median home value | $146,100 | $151,000 |
| Median property tax | $465 | $610 |
| Effective tax rate | 0.318% | 0.404% |
| Median gross rent | $861 | $865 |
| Population | 11,208 | 51,559 |
Morgan City extends across 2 counties. Figures here use St. Martin Parish, where most of its housing sits.
The weather behind that power bill
Morgan City sits in St. Martin Parish, which averages a high of 90.1°F in its hottest month and a low of 42.5°F in its coldest, with 66.79" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 2,558 cooling and 1,509 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for St. Martin Parish — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in St. Martin Parish
Full St. Martin Parish cost breakdown · Every county in Louisiana
Common questions
How much does it cost to own a home in Morgan City?
A $146,000 home in Morgan City, Louisiana costs approximately $1,238 per month with 20% down at 6.66%. That is $751 principal and interest, $39 property tax, $132 homeowners insurance, $195 utilities and $122 set aside for maintenance.
What is the property tax rate in Morgan City?
Morgan City has an effective property tax rate of 0.318%, based on a median home value of $146,100 and median real estate taxes of $465. That is lower than the St. Martin Parish average of 0.404%.
What is the average home price in Morgan City?
The median owner-occupied home value in Morgan City, Louisiana is $146,100, against $151,000 across St. Martin Parish.
Is it cheaper to rent or buy in Morgan City?
Median gross rent in Morgan City is $861 a month, against $1,238 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 Morgan City — 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.