Cost of living in Louisiana: Average home price: $250,000. Rent: $900/month (one-bedroom). Utility costs: $150/month. Groceries: $250/month per person. State income tax: 2% to 6%. Gasoline: $3.00 per gallon. Public transportation: $55/monthly pass. Dining out: $30 per meal. Health insurance: $400/month. Average salary: $50,000/year.
Average home price: $250,000
In Louisiana, the cost of living is 9% lower than the national average, with housing costs 18% lower. While specific details regarding the average home price are not provided, the overall indication is that housing costs are significantly more affordable in Louisiana compared to the national standard. For a detailed breakdown of living expenses across different regions, the Cost of Living Calculator offers insights into how these lower housing expenses can contribute to a more budget-friendly lifestyle.
Rent: $900/month (one-bedroom)
In Louisiana, renting a one-bedroom apartment can vary by location, but on average, a two-bedroom apartment costs around $900 per month. In cities like Shreveport and Monroe, rent for a two-bedroom apartment is around $800 per month, indicating one-bedroom rents would be somewhat less. To get a detailed view of rental costs across various cities, you can use the RentCafé Cost of Living Calculator, which provides insights into living expenditures statewide. This variance in rental prices highlights the affordable living options available in different regions, allowing residents to find housing that fits their budget.
Utility costs: $150/month
In Louisiana, utility costs are 16% lower than the national average, which is consistent with the overall lower cost of living in the state. For a comprehensive understanding of the expenses you might encounter, explore the RentCafe Cost of Living Calculator. This tool provides valuable insights tailored to residents of Louisiana, highlighting the financial benefits of living in this region.
Groceries: $250/month per person
The estimated monthly grocery cost in Louisiana is significantly higher than $250 per person. For a family of four, the average monthly grocery expense is between $600 and $700, indicating that the cost per person would be around $150 to $175 per month, which is still below the national average but far exceeds the $250 per person estimate. For more detailed information, you can explore the cost of living in Louisiana on the Bayou Mortgage website.
State income tax: 2% to 6%
Louisiana's state income tax rates range from 2% to 6%, depending on marital status and income, with specific brackets for Single, Married Filing Jointly, and Head of Household filers. For more detailed information, you can visit the comprehensive guide on the Louisiana Tax Rate provided by H&R Block's website.
Gasoline: $3.00 per gallon
In Louisiana, as of April 2024, the average gasoline price is $3.13 per gallon, a decrease of 12.2 cents compared to the previous year. This recent surge in prices has been attributed to refinery maintenance and escalating crude oil prices. For detailed insights into regional gas trends, visit the Press-Herald, which provides comprehensive coverage on this topic. Despite the decrease from last year, the recent uptick poses concerns for consumers and businesses alike.
Public transportation: $55/monthly pass
In Louisiana, the cost of a monthly pass for public transportation differs across cities, offering various options for residents. For instance, in Baton Rouge, a monthly pass costs $56, while in New Orleans, it is priced at $45, and in Shreveport, it is $40. Several cities provide more extensive and affordable transit solutions, catering to the diverse needs of their populations. To delve deeper into the specifics of living expenses across Louisiana, including public transportation costs, visit the Rent.com Blog for a comprehensive overview.
Dining out: $30 per meal
In Louisiana, dining out can cost around $30 per person for a three-course meal at a mid-range restaurant, while high-end dining can range from $60 to $80 per person. On the other hand, fast food meals are more affordable, costing approximately $8 per meal. For more details on the cost of living in Louisiana, you can visit the Cost of Living Louisiana page.
Health insurance: $400/month
In Louisiana, health insurance premiums average around $541 per month, with Bronze plans starting at about $408, Silver plans at $512, and Gold plans at $609. This makes a $400/month premium relatively affordable when compared to the state's averages. For more detailed insights into these plans, you can visit the Affordable Health Insurance website to explore various options and find a plan that fits your needs.
Average salary: $50,000/year
With an average salary of $50,000 per year, living in Louisiana can be relatively affordable since the cost of living is 9% lower than the national average. Housing, utilities, food, healthcare, and transportation costs are all lower than the national averages, making it easier to manage expenses on this salary. For a comprehensive understanding of the living expenses in Louisiana, the Cost of Living Calculator provides valuable insights into how these factors come together to influence your financial planning and lifestyle choices.