The typical owner-occupied home in Forest Hill is worth about $320,700, 48% above the Louisiana median of $216,500 and 4% below the national median of $332,700. The median household earns $115,938 a year, so the median home costs 2.8 times the median income (3.6 times for Louisiana). 59% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Forest Hill at a glance
| Forest Hill | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $320,700 | $216,500 | $332,700 |
| Median property tax paid per year | – | $1,180 | $3,119 |
| Median household income | $115,938 | $60,756 | $80,734 |
| Homes lived in by their owners | 59% | 67% | 65% |
| Owner homes with a mortgage | 52% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $2,700 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 27.2% | 20.4% | 21.0% |
| Median rent | $1,163 | $1,064 | $1,413 |
| Rent as a share of renters' income | 26.8% | 32.8% | 30.6% |
| Median year homes were built | 1995 | 1983 | 1980 |
| Vacant homes | 17.9% | 14.4% | 10.1% |
| Population | 727 | 4,611,961 | 334,922,499 |
What a typical home costs per month in Forest Hill
At this week's average 30-year rate of 7.11%, buying the median Forest Hill home of $320,700 with 20% down costs about $2,154 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,688, 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 $92,293 for the 20%-down payment. That payment is 22% of the median Forest Hill household income of $115,938; at that income and 20% down, the 28% guideline points to a home of about $403,000.
The median rent here is $1,163 a month, so owning the median home costs about $990 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $64,140 |
|---|---|
| Loan amount | $256,560 |
| Principal and interest | $1,726 |
| Property taxes (1.10% a year) | $294 |
| Homeowners insurance (our estimate, 0.5% a year) | $134 |
| PMI | $0 |
| Total per month | $2,154 |
Change the numbers in the calculator
| Down payment | $11,224 |
|---|---|
| Loan amount | $314,891 |
| Principal and interest | $2,118 |
| Property taxes (1.10% a year) | $294 |
| Homeowners insurance (our estimate, 0.5% a year) | $134 |
| FHA mortgage insurance | $142 |
| Total per month | $2,688 |
Change the numbers in the calculator
Questions about home buying in Forest Hill
What is the median home value in Forest Hill?
About $320,700 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 Forest Hill?
For the median home with 20% down at 7.11%, the payment is about $2,154 a month. Keeping that under 28% of gross income takes about $92,293 a year.
More about Forest Hill
- Mortgage Refinance in Forest Hill
- Debt Relief in Forest Hill
- Home Equity Loans in Forest Hill
- 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