Typical family home in Louisiana now costs $178,987, study finds

The average single-family home in Louisiana has a price tag of $178,987, the 11th lowest cost among the 50 states, according to a new study by the financial-services website 24/7 Wall St.

The median household income in Louisiana is now $51,073, while the cost of living in the state falls short of the U.S. average by 10.9 percent, the analysis found. And over the past year, median home values in Louisiana rose 4.5 percent.

Nationwide as of January, Americans paid $269,039 for a typical single-family home, according to 24/7 Wall St. These home costs can vary among states, from $113,626 to as high as $683,470, the real estate data firm Zillow reports.

Generally, in locations where homes sell for more than the U.S. average, household incomes are higher than $65,712, the national median, the researchers found. The cost of living where homes are expensive is also higher than in other parts of the nation, the study found.

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Typical Costs of Single-Family Homes by State

RankStateTypical Single-family Home PriceMedian Household IncomeCost of Living (Above or Below U.S. Average)1-year Change in Median Home Value1Hawaii$683,470$83,10218.1%4.7%2California$624,977$80,44015.4%10.5%3Massachusetts$474,673$85,8439.7%10.4%4Washington$470,304$78,6877.8%12.7%5Colorado$442,766$77,1271.9%8.5%6Oregon$402,573$67,0581.1%10.0%7Utah$401,053$75,780-3.4%13.3%8New Jersey$376,866$85,75115.2%10.6%9New York$350,545$72,10816.4%7.7%10Idaho$348,483$60,999-7.5%18.9%11Maryland$341,148$86,7388.4%8.5%12Rhode Island$340,811$71,169-0.7%11.9%13Nevada$332,501$63,276-2.5%8.6%14New Hampshire$330,976$77,9336.0%12.4%15Montana$324,813$57,153-6.7%9.8%16Arizona$315,554$62,055-3.5%16.5%17Virginia$307,964$76,4562.0%7.8%18Alaska$292,066$75,4634.8%0.6%19Connecticut$288,822$78,8336.1%11.5%20Delaware$284,787$70,176-1.2%9.6%21Minnesota$283,127$74,593-2.5%8.0%22Vermont$277,364$63,0013.0%6.1%23Maine$276,023$58,9240.0%12.3%24Florida$270,560$59,2270.6%8.6%25Wyoming$262,517$65,003-7.3%3.6%26North Dakota$239,464$64,577-9.4%2.7%27New Mexico$229,947$51,945-8.9%11.0%28North Carolina$225,740$57,341-8.2%9.3%29South Dakota$225,662$59,533-12.1%5.7%30Texas$224,466$64,034-3.2%7.5%31Georgia$223,945$61,980-7.0%9.2%32Illinois$219,806$69,187-1.9%6.2%33Pennsylvania$215,939$63,463-2.5%9.6%34Wisconsin$213,537$64,168-8.1%9.6%35Tennessee$207,727$56,071-10.1%10.3%36South Carolina$206,647$56,227-8.9%7.9%37Nebraska$192,584$63,229-10.5%7.4%38Michigan$192,093$59,584-7.6%9.9%39Missouri$180,253$57,409-11.2%9.1%40Louisiana$178,987$51,073-10.9%4.5%41Indiana$172,769$57,603-10.7%9.3%42Ohio$168,226$58,642-11.6%10.4%43Kansas$167,540$62,087-10.0%8.1%44Kentucky$160,589$52,295-12.2%7.5%45Iowa$158,930$61,691-10.8%3.6%46Alabama$158,809$51,734-13.6%8.9%47Arkansas$142,070$48,952-14.7%6.7%48Oklahoma$141,933$54,449-11.6%7.2%49Mississippi$134,125$45,792-14.0%4.8%50West Virginia$113,626$48,850-12.2%4.7%

Source: 24/7 Wall St.

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