Calcasieu Parish

Calcasieu Parish sits at a 7.13% rent-to-price ratio and a 4.64% cap rate on the model purchase price of $193,029, which puts it squarely in the middle of the cash-flow/appreciation spectrum, leaning slightly toward appreciation. The gross yield is decent but not remarkable, and the pro forma confirms that at 6.85% financing with 20% down, the levered position runs negative: the modeled cash-on-cash return is -7.19% and estimated monthly cash flow is -$266. That number demands scrutiny before you dismiss or embrace it, because the underlying cap rate at 4.64% is not far from where rates were when this market penciled for leveraged buyers. Home prices rose 4.06% year-over-year, the appreciation score is 83 out of 100, and the parish ranks 83rd nationally out of 1,000 counties, sitting in the 89th percentile. For a market in Louisiana with a median home price under $200,000, those appreciation and ranking numbers are notable. The affordability index of 85 and median household income of $64,370 suggest the renter base has reasonable but not exceptional purchasing power, which tends to support stable occupancy at the median rent of $1,147.

The negative levered cash flow at current rates makes this a difficult market for a pure cash-flow buyer operating at market leverage. The investor this market suits best is either a cash buyer who captures that 4.64% cap rate unencumbered, or an appreciation-focused buyer with a medium-to-long hold horizon who can absorb the monthly carry and wait for rents or prices to move. The appreciation score of 83 is the highest single metric in the data set, and with home prices already up 4.06% in the trailing year on a $193,029 median, a three-to-five year hold at even half that pace narrows the cash-flow gap materially as rents reset on renewal. Value-add operators can find opportunity here if they can compress the purchase price enough to push the cap rate above 5.5%, at which point levered cash flow turns positive at current rates. The affordability score of 85 means buyers and renters aren't priced out, which supports a healthy acquisition pipeline and low vacancy risk at the median price point.

The economic anchor data for Calcasieu Parish was not provided, so the analysis cannot speak to specific employers or job anchors. What the data does show is a population of 210,770, a size that indicates a real regional labor market rather than a single-industry town, and a median income of $64,370 that is meaningfully above what you see in many rural Louisiana parishes. Those two factors together suggest a more diversified demand base for rentals than the statewide average would imply.

On carry costs, the combined monthly tax and insurance estimate is $195, which is a tailwind relative to most comparable markets nationally. The state-average effective property tax rate is 0.55%, flagged as low, and the insurance rate is estimated at 0.66%. Both figures are state-average estimates per Tax Foundation 2024 data, and actual county or township rates will differ, so verify the specific parcel before closing. That said, at $195 combined per month, the tax and insurance load is one of the friendlier line items in the underwrite, and it partially offsets the pressure from the mortgage payment. If you are building a pro forma, the $195 figure is already embedded in the $401 estimated monthly expenses shown in the model.

The stability score of 50 out of 100 is the one number that deserves explicit attention and honest examination. It is by far the weakest score in the data set, sitting well below the overall score of 72 and the affordability and appreciation scores. The data does not specify what drives that instability, so this analysis cannot attribute it to a named cause. However, Louisiana's Gulf Coast geography carries inherent exposure to hurricane risk and flooding, which affects insurance availability, repair costs, and tenant turnover in ways that are not fully captured in a single insurance rate estimate. Any investor evaluating this market should stress-test the insurance figure, confirm flood zone status on any specific property, and underwrite for occasional vacancy or repair events above the model baseline.

Against its neighbors, Calcasieu Parish holds up well. It carries an overall score of 72 versus 73 for Caldwell Parish, 70 for Sabine Parish, 74 for Assumption Parish, and 69 each for Iberia and Livingston Parishes. Iberia Parish offers a notably higher rent-to-price ratio of 10.63% versus Calcasieu's 7.13%, which makes Iberia the stronger option for a cash-flow-first buyer willing to accept a lower overall score. Livingston Parish has a higher median rent of $1,595 and a rent-to-price ratio of 7.78%, but its $246,195 median home price means a larger absolute capital commitment and a higher mortgage burden. Choose Calcasieu over its neighbors when your thesis is appreciation-led with a manageable entry price, when you want a larger population base for tenant demand, or when you are building a portfolio and need a market where the median price leaves room to acquire multiple assets. Choose Iberia if your underwrite requires positive day-one cash flow and you can accept the trade-off on overall market quality.