The typical owner-occupied home in Westlake is worth about $166,100, 23% below the Louisiana median of $216,500 and 50% below the national median of $332,700. Owners pay a median $525 a year in property taxes, about 0.32% of their home's value, lower than the Louisiana rate of 0.55%. The median household earns $68,381 a year, so the median home costs 2.4 times the median income (3.6 times for Louisiana). 75% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Westlake at a glance
| Westlake | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $166,100 | $216,500 | $332,700 |
| Median property tax paid per year | $525 | $1,180 | $3,119 |
| Property tax as a share of value | 0.32% | 0.55% | 0.94% |
| Median household income | $68,381 | $60,756 | $80,734 |
| Homes lived in by their owners | 75% | 67% | 65% |
| Owner homes with a mortgage | 31% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,656 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 22.4% | 20.4% | 21.0% |
| Median rent | $1,049 | $1,064 | $1,413 |
| Rent as a share of renters' income | 41.7% | 32.8% | 30.6% |
| Median year homes were built | 1977 | 1983 | 1980 |
| Vacant homes | 18.9% | 14.4% | 10.1% |
| Population | 4,743 | 4,611,961 | 334,922,499 |
What a typical home costs per month in Westlake
At this week's average 30-year rate of 7.11%, buying the median Westlake home of $166,100 with 20% down costs about $1,007 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,284, 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 $43,174 for the 20%-down payment. That payment is 18% of the median Westlake household income of $68,381; at that income and 20% down, the 28% guideline points to a home of about $263,000.
The median rent here is $1,049 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $33,220 |
|---|---|
| Loan amount | $132,880 |
| Principal and interest | $894 |
| Property taxes (0.32% a year) | $44 |
| Homeowners insurance (our estimate, 0.5% a year) | $69 |
| PMI | $0 |
| Total per month | $1,007 |
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| Down payment | $5,814 |
|---|---|
| Loan amount | $163,092 |
| Principal and interest | $1,097 |
| Property taxes (0.32% a year) | $44 |
| Homeowners insurance (our estimate, 0.5% a year) | $69 |
| FHA mortgage insurance | $73 |
| Total per month | $1,284 |
Change the numbers in the calculator
Questions about home buying in Westlake
What is the median home value in Westlake?
About $166,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Westlake?
Homeowners pay a median $525 a year, which is about 0.32% 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 Westlake?
For the median home with 20% down at 7.11%, the payment is about $1,007 a month. Keeping that under 28% of gross income takes about $43,174 a year.
More about Westlake
- Mortgage Refinance in Westlake
- Debt Relief in Westlake
- Home Equity Loans in Westlake
- 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