The typical owner-occupied home in Homer is worth about $80,700, 63% below the Louisiana median of $216,500 and 76% below the national median of $332,700. Owners pay a median $199 a year in property taxes, about 0.25% of their home's value, lower than the Louisiana rate of 0.55%. The median household earns $23,160 a year, so the median home costs 3.5 times the median income (3.6 times for Louisiana). 47% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Homer at a glance
| Homer | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $80,700 | $216,500 | $332,700 |
| Median property tax paid per year | $199 | $1,180 | $3,119 |
| Property tax as a share of value | 0.25% | 0.55% | 0.94% |
| Median household income | $23,160 | $60,756 | $80,734 |
| Homes lived in by their owners | 47% | 67% | 65% |
| Owner homes with a mortgage | 31% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $984 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 24.5% | 20.4% | 21.0% |
| Median rent | $729 | $1,064 | $1,413 |
| Rent as a share of renters' income | 51.0% | 32.8% | 30.6% |
| Median year homes were built | 1968 | 1983 | 1980 |
| Vacant homes | 21.6% | 14.4% | 10.1% |
| Population | 2,654 | 4,611,961 | 334,922,499 |
What a typical home costs per month in Homer
At this week's average 30-year rate of 7.11%, buying the median Homer home of $80,700 with 20% down costs about $485 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $619, 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 $20,775 for the 20%-down payment. That payment is 25% of the median Homer household income of $23,160; at that income and 20% down, the 28% guideline points to a home of about $90,000.
The median rent here is $729 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $16,140 |
|---|---|
| Loan amount | $64,560 |
| Principal and interest | $434 |
| Property taxes (0.25% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| PMI | $0 |
| Total per month | $485 |
Change the numbers in the calculator
| Down payment | $2,824 |
|---|---|
| Loan amount | $79,238 |
| Principal and interest | $533 |
| Property taxes (0.25% a year) | $17 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| FHA mortgage insurance | $36 |
| Total per month | $619 |
Change the numbers in the calculator
Questions about home buying in Homer
What is the median home value in Homer?
About $80,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Homer?
Homeowners pay a median $199 a year, which is about 0.25% 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 Homer?
For the median home with 20% down at 7.11%, the payment is about $485 a month. Keeping that under 28% of gross income takes about $20,775 a year.
More about Homer
- Mortgage Refinance in Homer
- Debt Relief in Homer
- Home Equity Loans in Homer
- 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