Louisiana Debt Overview
| Metric | Louisiana | US Average |
|---|---|---|
| Avg household debt (ex-mortgage) | $40,500 | $44,200 |
| Median home value | $200,000 | $308,000 |
| Property tax rate | 0.56% | 1.08% |
| State income tax | 1.85%–4.25% | varies |
Payoff Time: $40500 Debt at 20% APR
| Monthly Payment | Payoff Time | Total Interest |
|---|---|---|
| $810/mo | 9yr 1mo | ~$47,305 |
| $1,215/mo | 4yr 2mo | ~$19,109 |
| $1,620/mo | 2yr 9mo | ~$12,329 |
| $2,025/mo | 2yr 1mo | ~$9,178 |
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What is the average debt in Louisiana?
The average household debt in Louisiana (excluding mortgage) is approximately $40,500.
Does Louisiana income tax affect debt repayment?
Louisiana's income tax of 1.85%–4.25% reduces take-home pay, making it important to budget carefully for debt payments.
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