Total monthly cost of ownership
Cost to Own a Home in New Iberia, Louisiana
A $150,000 home here costs
$1,345per 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 $57,500 a year.
A standard mortgage calculator would have told you $818. The real number is $528 higher every month, 65% more than the payment most buyers budget for.
Compare Iberia 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.
New Iberia against Iberia Parish and Louisiana
| Measure | New Iberia | Iberia Parish |
|---|---|---|
| Median home value | $150,300 | $156,000 |
| Median property tax | $537 | $547 |
| Effective tax rate | 0.357% | 0.351% |
| Median gross rent | $878 | $891 |
| Population | 27,926 | 69,194 |
The weather behind that power bill
New Iberia sits in Iberia 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 $155 electricity line above.
See the full climate breakdown for Iberia Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Iberia Parish
Full Iberia Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are New Iberia 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 New Iberia every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Iberia I already own here and may sell
Common questions
How much does it cost to own a home in New Iberia?
A $150,000 home in New Iberia, Louisiana costs approximately $1,345 per month with 20% down at 7.24%. That is $818 principal and interest, $45 property tax, $135 homeowners insurance, $223 utilities and $125 set aside for maintenance.
What is the property tax rate in New Iberia?
New Iberia has an effective property tax rate of 0.357%, based on a median home value of $150,300 and median real estate taxes of $537. That is in line with the Iberia Parish average of 0.351%.
What is the average home price in New Iberia?
The median owner-occupied home value in New Iberia, Louisiana is $150,300, against $156,000 across Iberia Parish.
Is it cheaper to rent or buy in New Iberia?
Median gross rent in New Iberia is $878 a month, against $1,345 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 New Iberia?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Iberia, Louisiana at today's rate takes a household income of roughly $57,500 a year. That covers the full $1,345 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Iberia, 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.