Louisiana Retirement Guide
Overall
Finding the best places to retire in Louisiana is all about narrowing down a set of many great options. The state is one of the most active in terms of marketing itself to retirees, and has many resources to help match you up with a top Louisiana retirement community. This page will acquaint you with some basic facts about retirement in Louisiana. In the aftermath of Hurrican Katrina the dollar will go far in Louisiana; you will be very well welcomed to the state. The 2015 population was almost 4.7 million and the median age was 36. New Orleans and Baton Rouge are the big cities and have a lot to offer in terms of culture, restaurants, and entertainment. Updated Oct. 2018.
River Center in downtown Louisiana
Climate
The Louisiana climate is characterized as humid sub-tropical. It is influenced heavily by the gulf. Summers are hot and humid and winters are mild. As we know from Katrina, the coast can be impacted by hurricanes.
Economy and Housing Prices
In 2015 the Louisiana household income was $45,146, near the bottom of all states. The Zillow Home Value Index of a home was $145,300 in late 2018 according to Zillow.com, about 60% of the National Index. In late 2016, median list price for New Orleans was $216,000 according to the National Association of Realtors, and in Baton Rouge it was $212,200.
Taxes
Tax Burden: At 7.6% Louisiana’s tax burden is the 5th lowest in the US according to the Tax Foundation.
Marginal Income Tax Rates. The LA top marginal income tax rate ranges from 2% to 6%, which kicks in on joint incomes over $100,000.
Retirement Income Exemptions. Most public sector including military pensions are exempt from state income tax. Part of private sector pensions are exempt ($6,000 each).
Social security exemption. Social security income is not taxable.
Sales Tax: Sales tax is 4%. Political subdivisions can add a sales tax to this bringing the total to almost 9%.
Property Taxes: People over 65 can qualify (with income limitations) to have the assessed value of their home frozen for property tax purposes. According to SmartAsset.com, the median property tax in the state in 2012 was $750, one of the lowest amounts in the country.
Homestead Exemption. A special assessment freezing assessed value applies to the homestead of those 65 and older if their adjusted gross income is beneath a certain level. Call 225-925-7830 for details.
Estate and/or Inheritance Taxes. There is no inheritance or estate tax.
Link to the Louisiana Department of Revenue
List of Louisiana Certified Retirement Communities
Louisiana has a certified retirement community program. In this type of program the state encourages communities to meet certain criteria so they can attract retirees to the state. Louisiana has chosen several communities to participate in Lt. Governor Landrieu’s new Certified Retirement Community program. The selected communities: Covington, Crowley, Lake Charles, Thibodaux, St. Landry Parish, Natchitoches Parish and Jefferson Parish. Additional towns that Louisiana is promoting on its website for retirement include Alexandria, Baton Rouge, Houma, Iberville, Lafayette, Lake Charles, Monroe, Natchitoches, New Orleans, New Iberia, Ruston, Shreveport, St. Francisville, and Vacherie, and the I-12 Retirement District (which consists of four parishes – St. Helena, St. Tammany, Tangipahoa and Washington.)
Best retirement communities
– Leesville and DeRidder are two additional towns that have attracted many retirees. These communities have benefited greatly from the infrastructure and recreational opportunities built for Fort Polk.
– Natchitoches – this town has old world charm and a historic district. It is on a lake
– Lafayette – This college town is referred to as the ‘Cajun Capital City’ due to its location in the heart of Louisiana’s Cajun country in the south central section of the state.
– St. Francisville – St. Francisville is located on the Mississippi River and is one of the most beautiful cities in the South. Its restored homes and churches are lovely.
Find more helpful information on all of our state retirement guides
