Total monthly cost of ownership
Cost to Own a Home in Raceland, Louisiana
A $163,000 home here costs
$1,443per 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 $62,000 a year.
A standard mortgage calculator would have told you $889. The real number is $554 higher every month, 62% more than the payment most buyers budget for.
Compare Lafourche 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.
Raceland against Lafourche Parish and Louisiana
| Measure | Raceland | Lafourche Parish |
|---|---|---|
| Median home value | $163,100 | $190,800 |
| Median property tax | $579 | $951 |
| Effective tax rate | 0.355% | 0.498% |
| Median gross rent | $632 | $933 |
| Population | 10,517 | 96,670 |
The weather behind that power bill
Raceland sits in Lafourche Parish, which averages a high of 89.4°F in its hottest month and a low of 44.8°F in its coldest, with 66.68" of precipitation a year and 36% of it in a single three-month stretch. That climate drives 2,886 cooling and 1,267 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Lafourche Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lafourche Parish
Full Lafourche Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Raceland 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 Raceland every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Raceland I already own here and may sell
Common questions
How much does it cost to own a home in Raceland?
A $163,000 home in Raceland, Louisiana costs approximately $1,443 per month with 20% down at 7.24%. That is $889 principal and interest, $48 property tax, $147 homeowners insurance, $223 utilities and $136 set aside for maintenance.
What is the property tax rate in Raceland?
Raceland has an effective property tax rate of 0.355%, based on a median home value of $163,100 and median real estate taxes of $579. That is lower than the Lafourche Parish average of 0.498%.
What is the average home price in Raceland?
The median owner-occupied home value in Raceland, Louisiana is $163,100, against $190,800 across Lafourche Parish.
Is it cheaper to rent or buy in Raceland?
Median gross rent in Raceland is $632 a month, against $1,443 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 Raceland?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Raceland, Louisiana at today's rate takes a household income of roughly $62,000 a year. That covers the full $1,443 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Raceland, 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.