The typical owner-occupied home in Olla is worth about $119,200, 45% below the Louisiana median of $216,500 and 64% below the national median of $332,700. The median household earns $29,688 a year, so the median home costs 4.0 times the median income (3.6 times for Louisiana). 66% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Olla at a glance
| Olla | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $119,200 | $216,500 | $332,700 |
| Median property tax paid per year | – | $1,180 | $3,119 |
| Median household income | $29,688 | $60,756 | $80,734 |
| Homes lived in by their owners | 66% | 67% | 65% |
| Owner homes with a mortgage | 47% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,000 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 21.9% | 20.4% | 21.0% |
| Median rent | $422 | $1,064 | $1,413 |
| Rent as a share of renters' income | 31.7% | 32.8% | 30.6% |
| Median year homes were built | 1978 | 1983 | 1980 |
| Vacant homes | 25.5% | 14.4% | 10.1% |
| Population | 1,179 | 4,611,961 | 334,922,499 |
What a typical home costs per month in Olla
At this week's average 30-year rate of 7.11%, buying the median Olla home of $119,200 with 20% down costs about $800 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $999, 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 $34,304 for the 20%-down payment. That payment is 32% of the median Olla household income of $29,688; at that income and 20% down, the 28% guideline points to a home of about $103,000.
The median rent here is $422 a month, so owning the median home costs about $378 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $23,840 |
|---|---|
| Loan amount | $95,360 |
| Principal and interest | $641 |
| Property taxes (1.10% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| PMI | $0 |
| Total per month | $800 |
Change the numbers in the calculator
| Down payment | $4,172 |
|---|---|
| Loan amount | $117,041 |
| Principal and interest | $787 |
| Property taxes (1.10% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| FHA mortgage insurance | $53 |
| Total per month | $999 |
Change the numbers in the calculator
Questions about home buying in Olla
What is the median home value in Olla?
About $119,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Olla?
For the median home with 20% down at 7.11%, the payment is about $800 a month. Keeping that under 28% of gross income takes about $34,304 a year.
More about Olla
- Mortgage Refinance in Olla
- Debt Relief in Olla
- Home Equity Loans in Olla
- 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