Total monthly cost of ownership
Cost to Own a Home in Oberlin, Louisiana
A $96,000 home here costs
$929per 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 $40,000 a year.
A standard mortgage calculator would have told you $523. The real number is $406 higher every month, 78% more than the payment most buyers budget for.
Compare Allen Parish with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Oberlin from a five-year rolling sample, and with about 1,683 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 Allen 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.
Oberlin against Allen Parish and Louisiana
| Measure | Oberlin | Allen Parish |
|---|---|---|
| Median home value | $95,700 | $110,800 |
| Median property tax | $199 | $199 |
| Effective tax rate | 0.208% | 0.180% |
| Median gross rent | $425 | $739 |
| Population | 1,683 | 22,552 |
The weather behind that power bill
Oberlin sits in Allen Parish, which averages a high of 91.1°F in its hottest month and a low of 39.2°F in its coldest, with 61.75" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 2,411 cooling and 1,851 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Allen Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Allen Parish
Full Allen Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Oberlin 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 Oberlin every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Oberlin I already own here and may sell
Common questions
How much does it cost to own a home in Oberlin?
A $96,000 home in Oberlin, Louisiana costs approximately $929 per month with 20% down at 7.24%. That is $523 principal and interest, $17 property tax, $87 homeowners insurance, $223 utilities and $80 set aside for maintenance.
What is the property tax rate in Oberlin?
Oberlin has an effective property tax rate of 0.208%, based on a median home value of $95,700 and median real estate taxes of $199. That is higher than the Allen Parish average of 0.180%.
What is the average home price in Oberlin?
The median owner-occupied home value in Oberlin, Louisiana is $95,700, against $110,800 across Allen Parish.
Is it cheaper to rent or buy in Oberlin?
Median gross rent in Oberlin is $425 a month, against $929 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 Oberlin?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oberlin, Louisiana at today's rate takes a household income of roughly $40,000 a year. That covers the full $929 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Oberlin, 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.