Red River Parish

Red River Parish sits at a median home price of $150,412 with year-over-year appreciation of 8.3%, which is the most striking number in this dataset. The affordability index of 98 out of 100 tells you prices are still accessible relative to income. What the data does not supply is a cap rate, a rent estimate, or a cash-on-cash figure for this parish, which is itself an underwriting signal: rental market data here is thin enough that the tool cannot generate reliable income projections. The appreciation score of 84 and national percentile rank of 98th out of 1,000 counties, along with a state rank of 1st out of 64 parishes, make this the top-ranked market in Louisiana by the model's composite scoring, driven primarily by that price appreciation trajectory rather than income return.

The investor this market suits is someone buying for price appreciation on a low basis, not for immediate yield. At $150,412 with 8.3% annual price gains, you are looking at roughly $12,500 in implied equity appreciation per year before any leverage amplification, on an entry point that is genuinely cheap by national standards. A cash-flow buyer needs to run their own rent comps aggressively before committing, because the model flags the cash-flow score as zero, meaning the income-side data is either absent or does not pencil at standard financing assumptions with a 6.85% rate. A value-add operator who can manufacture rent through rehab and reposition at above-market rents might find the low entry price gives them room to work, but they need to validate local renter demand independently. The appreciation buyer who can carry a lean or paid-down asset and wait for the price trend to compound is the clearest fit.

On carry costs, the property tax picture is a genuine tailwind here. Louisiana's state-average effective rate of 0.55% generates an estimated annual tax bill of $827 on this price point. Combined with estimated annual insurance of $993, that is $152 per month in tax and insurance combined. That is a materially low carry cost relative to most U.S. markets and helps offset the lack of visible rent income data. Insurance at 0.66% annually is worth watching given Louisiana's coastal and storm exposure statewide, though Red River Parish is in the northwest of the state and may price differently than coastal parishes. Remember that the 0.55% rate is a state-average estimate per Tax Foundation 2024 data, and the actual parish or township rate may vary, so confirm with the assessor's office before finalizing your underwrite. That said, the propertyTaxFlag being "low" means this is a cost tailwind, not a drag.

The primary risks here are concentration and scale. A population of 7,631 is a very small market. Thin rental demand means a single vacancy can sit for months, and tenant turnover is more disruptive when the renter pool is limited. Small markets also tend to have less price discovery, which cuts both ways: it can explain why prices are still low, but it also means comps are scarce and appraisals can be unpredictable. Stability scores at 50 out of 100, which is exactly middling, suggesting the model sees meaningful volatility or economic uncertainty baked into the parish's profile. An investor should treat that alongside the population figure: this is not a market where you deploy a portfolio of units; it is a market where a single well-selected asset with a long hold horizon and low leverage might outperform.

Against its neighbors, Red River Parish's overall score of 78 leads the comparison set clearly. Assumption Parish scores 74 at a $171,822 median, Caldwell Parish scores 73 at $127,430, Calcasieu Parish scores 70 at $193,360 with a documented rent-to-price ratio of 6.59%, and Iberia Parish scores 69 at $134,124 with a rent-to-price ratio of 10.6%. That Iberia Parish figure is notable: a gross rent multiplier implied by a 10.6% rent-to-price ratio suggests Iberia generates substantially better current income than anything this dataset shows for Red River. If cash flow is your primary objective, Iberia Parish's numbers are more actionable. Calcasieu at 6.59% is thinner but has a larger population base and more rental market transparency. Choose Red River Parish over these neighbors specifically when your thesis is low-basis appreciation with minimal carry cost and a long hold, and when you have done the ground-level rent work to confirm a tenant actually exists for the asset you are buying.