Saint Mary Parish

Saint Mary Parish sits at a median home price of $125,473 with year-over-year appreciation of 3.45%, landing it in the 98th percentile nationally out of 1,000 counties ranked, and first in Louisiana. The affordability index hits 100, meaning homes here are as accessible as they get relative to local incomes. The data does not include a rent estimate or cap rate for Saint Mary, so underwriting a specific cash-flow number requires local rent comps pulled independently. What the scoring tells you is that this market leans heavily toward affordability and appreciation, not cash flow, with an appreciation score of 81 and a cash-flow score of 0. That zero is a flag worth sitting with before you write an offer: the model couldn't derive a rent-to-price ratio sufficient to generate positive carry at a 6.85% rate on a $125,473 purchase with standard expenses, which tells you that rents relative to price are thin enough that the deal math depends on which neighborhood, property type, and rent level you're targeting.

The investor this market suits best is either a long-horizon appreciation buyer comfortable holding at breakeven or slight negative carry, or a value-add operator who can lift rents above market through renovation or repositioning. At a $125,473 price point the absolute dollars at risk are low, which reduces the cost of a learning curve. A strict cash-flow buyer who needs day-one positive returns at a conventional rate should look elsewhere or plan on a larger down payment to reduce the mortgage load. The stability score of 50 is the other number to internalize: this is not a stable, diversified metro. Volatility risk is real, and that shapes how much leverage you want to carry.

The economic context in Saint Mary Parish is inseparable from the energy sector. The parish sits along the Gulf Coast in the Atchafalaya Basin region, historically tied to oil and gas extraction, offshore services, and petrochemical activity. That concentration creates exactly the volatility the stability score of 50 reflects: when commodity prices are up, employment and rental demand follow; when they drop, the market softens quickly. An investor buying here is effectively taking a partial long position on Gulf energy activity alongside the real estate. That's not disqualifying, but it demands you underwrite conservatively on occupancy and rent growth rather than projecting the current cycle forward.

On carry costs, the tax and insurance picture in Louisiana is a meaningful part of the story. The state-average effective property tax rate is 0.55%, which the data flags as low. At a $125,473 purchase, that translates to roughly $690 in annual taxes. Insurance runs approximately $828 annually at the 0.66% state-average rate. Combined, monthly tax and insurance come to $127, which is a genuine tailwind relative to what you'd pay in a high-tax state on a similarly priced asset. The low property tax rate adds real margin to a deal that otherwise struggles on cash flow. That said, both figures are state-average estimates per the Tax Foundation's 2024 data, and county or township rates in Saint Mary Parish specifically may differ, so verify with the assessor before closing.

The principal risk here is concentration. A single-industry, 49,000-person parish on the Gulf Coast carries hurricane and flood exposure alongside oil-price sensitivity. Neither the population size nor the economic base provides the diversification buffer that cushions larger metros during downturns. Regulatory risk specific to this parish is not addressed in the data, but Louisiana's landlord-tenant laws are generally considered landlord-friendly, which is at least a neutral factor. What you're underwriting is a small, cyclical market, and position sizing should reflect that.

Compared to its neighbors, Saint Mary Parish is the most affordable option in the peer group at $125,473, sitting just below Caldwell Parish at $127,430 and well below Assumption at $171,822, Sabine at $186,542, and Calcasieu at $193,360. Its overall score of 78 leads all five neighbors, with Assumption at 74, Caldwell at 73, and Calcasieu and Sabine both at 70. Iberia Parish is the most direct comparison with actual rent data available: at a $134,124 median price and a gross rent-to-price ratio of 10.63%, Iberia shows meaningfully better cash-flow math on paper. If you're a strict yield buyer, Iberia's numbers are more immediately investable. Calcasieu's rent-to-price ratio of 6.59% on a $193,360 median is the weakest in the comparison set. Saint Mary makes the most sense over its neighbors when you're prioritizing entry price, you believe in appreciation upside relative to the score, and you're disciplined enough to hold through an energy-sector cycle without needing the property to carry itself.