# Louisiana

### Summary

Louisiana state is facing an acute affordable housing crisis. For every 100 low-income renter households, there are 52 units available that are affordable to them. The median rent in the state has risen by 39% since 2010, while median household incomes have grown by 20%. Currently, the state is short over 73,293 low-income housing units, meaning rental units that are affordable to households earning ≤60% of AMI.

### Key Statistics

- **33.3%** share of renter households  
- **41.5%** share of low-income households  
- **46.7%** share of rent-burdened households

### Renter population data

| Households              | % share |
|-------------------------|---------|
| Renter households       | 582,830 | 33.3%   |
| Homeowner households    | 1,165,858 | 66.7%   |
| Total households        | 1,748,688 | 100.0%  |
| Low-income renter households | - | - |

#### Renter households by income group

| Households                      | % share |
|----------------------------------|---------|
| Extremely low-income ≤30% AMI   | 84,601  | 14.5%   |
| Very low-income 31-50% AMI      | 68,178  | 11.7%   |
| Low-income 51-80% AMI           | 88,890  | 15.3%   |
| All low-income households <80% AMI | 241,669 | 41.5%   |

#### Rent-burdened households

| Households                     | % share |
|--------------------------------|---------|
| Moderately rent-burdened      | 126,334 | 21.7%   |
| 30.0–34.9%                    | 43,112  | 7.4%    |
| 35.0–39.9%                    | 34,721  | 6.0%    |
| 40.0-49.9%                    | 48,501  | 8.3%    |
| Severely rent-burdened        | 145,916 | 25.0%   |
| All rent-burdened households   | 272,250 | 46.7%   |

### Affordable housing shortage

**Median household income**

| Year | Amount ($) |
|------|------------|
| 2010 | 25,592     |
| 2021 | 30,675     |
| Increase (2010–2021) | 19.9% |

**Median rent**

| Year | Amount ($) |
|------|------------|
| 2010 | 540        |
| 2021 | 748        |
| Increase (2010–2021) | 38.5% |

**Affordable housing stock**  
**Supply, demand & shortage**

| Units                   | Number  |
|-------------------------|---------|
| Supply (current stock)  | 79,486  |
| Demand (total units needed) | 152,779 |
| Shortage                | 73,293  |
| Total shortage          | 73,293  |
| Supply/Demand ratio     | 52.0%   |

### Finance institutions

#### Louisiana Housing Corporation

**Address:** 2415 Quail Drive, Baton Rouge, LA 70808  
**List of loan programs**  
- [LOW-INCOME HOUSING TAX CREDIT (LIHTC) PROGRAM](https://www.lhc.la.gov/low-income-housing-tax-credit-lihtc-program)  
- [MULTIFAMILY REVENUE BONDS](https://www.lhc.la.gov/multifamily-revenue-bonds#)  
- [Nonprofit Open Cycle Affordable Housing Program (NOAH)](https://www.lhc.la.gov/noah#)  
- [CHDO Annual Awards Program (CHAAP)](https://www.lhc.la.gov/chaap#)  
- [HOME](https://www.lhc.la.gov/home-program)  
- [HOUSING TRUST FUND](https://www.lhc.la.gov/housing-trust-fund)  
- [CDBG](https://www.lhc.la.gov/cdbg#)  
- [COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO)](https://www.lhc.la.gov/chdo)

### Housing news

#### September 19, 2024 - Fast Company  
**How Fed Rate Cuts Impact the Housing Market**  
The Federal Reserve’s recent rate cuts will influence the housing market, but the effects won't be immediate. Key Takeaways:  
- **Lower Mortgage Rates**: Fed rate cuts have reduced the average 30-year mortgage rate from a peak of 7.79% to around 6.2%.  
- **Ongoing Supply Issues:** Despite lower rates, housing supply shortages persist, especially in high-demand areas.

#### June 26, 2024 - New York Post  
**Housing market won’t come ‘unstuck’ until 2026, economists predict**  
Economists predict the housing market won't recover until at least 2026, mainly due to high inflation and mortgage rates.

#### May 15, 2024 - US News  
**States With the Largest Homeless Populations**  
In 2023, the number of homeless individuals in the U.S. reached approximately 653,000, representing a significant increase compared to 2020.

#### June 11, 2024 - NBC News  
**The homebuying affordability gap is widening across the country**  
Currently, only 63% of counties are affordable for median-income households, down from 94% in 2019.

#### July 15, 2024 - The Washington Post  
**Homelessness appears to be worsening among workers**  
More employed people are unable to afford housing due to high rents, forcing many into precarious living situations.

### Shortage statistics for ELI & VLI renters

**List of counties**  
- County statistics coming soon...

### Housing news

#### Latest updates  
- September 19, 2024 - Fast Company
- June 26, 2024 - New York Post
- May 15, 2024 - US News
- June 11, 2024 - NBC News
- July 15, 2024 - The Washington Post

**Housing Count**  
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