Plaquemines Parish

Plaquemines Parish posts a gross rent-to-price ratio of 9.17%, which is high enough to clear the first screen most cash-flow investors apply. The cap rate on a median-priced acquisition comes in at 5.96%, which is real yield in a market where median home prices sit at $278,113. The cash-on-cash return, however, flips negative at -1.44%, and the model shows estimated monthly cash flow of -$77 after a 20% down payment financed at 6.85%. That gap between a solid cap rate and negative levered returns is almost entirely an interest-rate story: the unlevered yield is there, but current debt service ($1,458/month on the mortgage alone) erodes it. The parish's year-over-year home price change is -1.9%, which keeps it squarely on the cash-flow side of the spectrum rather than the appreciation side. The appreciation score of 40 out of 100 confirms this is not a market you enter expecting price growth to bail out a thin deal.

The cash-flow score of 92 out of 100 tells you exactly who this market is built for: a buyer who can bring a larger equity position to the table, reduce debt service below what the model assumes, and capture the yield the 9.17% gross ratio implies. An all-cash or lightly leveraged buyer sees a 5.96% going-in cap rate on median product at $278,113, which is a reasonable return if the business plan is income, not appreciation. The stability score of 50 and the appreciation score of 40 disqualify this parish for anyone whose thesis depends on price growth or a liquid exit at a premium. A value-add operator working distressed product at a basis meaningfully below $278,113 could potentially push levered returns into positive territory, since the rent side of the equation, at a $2,125 median, is not the problem.

Plaquemines Parish's position at the mouth of the Mississippi River ties its economic base directly to energy and maritime industries. The parish sits in the 65th national percentile and ranks 13th out of 64 Louisiana parishes overall, a placement that reflects genuine cash-flow competitiveness rather than broad economic depth. A population of 23,305 means this is a small market, and small markets carry concentration risk by definition: demand for rentals is thinner, and any disruption to the dominant employment sectors ripples through quickly. The affordability index of 70 suggests residents are not priced out of buying, which puts some ceiling on how far rents can run before tenants start transitioning to ownership.

On carry costs, the combined monthly tax and insurance figure of $281 is embedded in the $744 estimated expense line. Louisiana's state-average effective property tax rate is 0.55%, which the data flags as low, and that rate is a genuine tailwind for the underwrite. At $1,530 in annual taxes on a $278,113 asset, the tax burden is meaningfully below national norms and partially offsets what is a more expensive insurance picture. The annual insurance estimate of $1,836 at a 0.66% rate reflects the coastal exposure this parish carries. That is not a surprise given the geography, but investors should underwrite insurance carefully and verify current market rates with local carriers, as coastal Louisiana is a challenging environment for property insurance and the state-average figure may not capture the full parish-specific premium. The tax rate is a state-average estimate and county-level rates will vary.

The concentration and climate risk here are real and data-supported. A population of 23,305, narrow geography, and heavy reliance on industries tied to the Gulf corridor mean that a significant weather event or an energy-sector contraction can compress both occupancy and values simultaneously. The -1.9% home price decline year-over-year is not a crisis, but in a small market with a stability score of 50, it warrants attention as a possible leading indicator of demand softening rather than a short-term blip.

Against its neighbors, Plaquemines Parish's 9.17% rent-to-price ratio stands up well. Ascension Parish, with a $303,167 median price and a 6.98% gross ratio, is more expensive and less yield-productive, making it a worse starting point for a cash-flow buyer despite a comparable overall score of 64. Lafourche Parish, at a $178,251 median and an 8.30% ratio, offers lower entry cost and reasonable yield, and its overall score of 66 edges Plaquemines out, which suggests it deserves a parallel look for buyers who want to reduce basis and improve leverage economics. Webster Parish at a $120,915 median and a 9.59% ratio actually tops Plaquemines on the gross yield metric and at a fraction of the entry price, though its rural character and smaller population introduce their own demand questions. Choose Plaquemines over its neighbors when the asset-specific opportunity justifies the coastal risk premium and when you can structure a deal at a basis or leverage level that converts the 5.96% cap rate into positive levered cash flow. If you cannot clear that bar on pencil, Lafourche or Webster may offer a more forgiving path to the same income objective.