The typical owner-occupied home in Oberlin is worth about $96,000, 56% below the Louisiana median of $216,500 and 71% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.21% of their home's value, lower than the Louisiana rate of 0.55%. The median household earns $31,738 a year, so the median home costs 3.0 times the median income (3.6 times for Louisiana). 56% of occupied homes here are lived in by their owners, and 22% of those owners still have a mortgage.
Oberlin at a glance
| Oberlin | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $96,000 | $216,500 | $332,700 |
| Median property tax paid per year | $199 | $1,180 | $3,119 |
| Property tax as a share of value | 0.21% | 0.55% | 0.94% |
| Median household income | $31,738 | $60,756 | $80,734 |
| Homes lived in by their owners | 56% | 67% | 65% |
| Owner homes with a mortgage | 22% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,328 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 40.3% | 20.4% | 21.0% |
| Median rent | $448 | $1,064 | $1,413 |
| Rent as a share of renters' income | 28.6% | 32.8% | 30.6% |
| Median year homes were built | 1989 | 1983 | 1980 |
| Vacant homes | 18.0% | 14.4% | 10.1% |
| Population | 1,809 | 4,611,961 | 334,922,499 |
What a typical home costs per month in Oberlin
At this week's average 30-year rate of 7.11%, buying the median Oberlin home of $96,000 with 20% down costs about $573 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $733, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $24,576 for the 20%-down payment. That payment is 22% of the median Oberlin household income of $31,738; at that income and 20% down, the 28% guideline points to a home of about $124,000.
The median rent here is $448 a month, so owning the median home costs about $125 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $19,200 |
|---|---|
| Loan amount | $76,800 |
| Principal and interest | $517 |
| Property taxes (0.21% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $573 |
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| Down payment | $3,360 |
|---|---|
| Loan amount | $94,261 |
| Principal and interest | $634 |
| Property taxes (0.21% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $733 |
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Questions about home buying in Oberlin
What is the median home value in Oberlin?
About $96,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Oberlin?
Homeowners pay a median $199 a year, which is about 0.21% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Oberlin?
For the median home with 20% down at 7.11%, the payment is about $573 a month. Keeping that under 28% of gross income takes about $24,576 a year.
More about Oberlin
- Mortgage Refinance in Oberlin
- Debt Relief in Oberlin
- Home Equity Loans in Oberlin
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data