Compare Baton Rouge, LA mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Baton Rouge.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Baton Rouge. Plus, shopping lenders is free and there is no obligation.
July 2, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Baton Rouge. Understand how much you need to earn to afford a home in Baton Rouge, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Baton Rouge fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Baton Rouge is right for you.
The median home value for Baton Rouge, LA (East Baton Rouge County) is $234,304
Based on current mortgage rates and a 10% down payment, you need to make $38,390 per year to buy the median priced home in Baton Rouge
With this income, you could qualify for a $210,874 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Baton Rouge is $889
The median household income for Baton Rouge, LA (East Baton Rouge County) is $61,016
Based on this income, you can afford a home valued at approximately $372,400
The home price you can afford to buy based on household income in Baton Rouge is 159% of the median home value which means housing prices are average. Baton Rouge (East Baton Rouge County) ranks 58 out of 64 counties in Louisiana and 2,468 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Baton Rouge, LA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Baton Rouge (East Baton Rouge County) below.
Conforming loan limits for Baton Rouge, LA
FHA loan limits for Baton Rouge, LA