.png)
By Robin Simon, President, Harpoon Capital · About · LinkedIn · Author, The Book on DSCR Loans (Available on Amazon)
While Louisiana rarely tops anyone's list of the easiest states to invest in (hurricane season sees to that), it offers an unusually varied lineup: a fast-moving north Louisiana market in Monroe, the iconic and tightly controlled short-term rental market of New Orleans, the capital-region markets of Baton Rouge and Hammond, a healthcare-and-gaming economy in Shreveport, and the casino-country vacation market of Lake Charles. Home prices run from about $147,000 in Shreveport to about $244,000 in New Orleans (Zillow, 2026), and the markets in between reward very different strategies, which is exactly why investors comparing them typically start with “rent-to-price ratios.” Investors buying here typically finance with Louisiana DSCR loans, which are qualified primarily based on the property rather than the borrower's personal income.
This breakdown uses market data collected as of October 2026, the most current snapshot available heading into next year's buying season. If you're evaluating a purchase in the final months of 2026, keep in mind that your first full year of rental income, appreciation, or short-term rental revenue lands in 2027 regardless of when you close. A deal you underwrite today is already a 2027 investing decision, just one made with the freshest data available right now.
Louisiana has no statewide short-term rental permit, no statewide registry and no preemption of local rules (i.e. every city writes its own), and the differences are dramatic: New Orleans stopped taking new commercial short-term rental applications in June 2023 and rations owner-occupied permits through quarterly application windows, Shreveport requires a permit and a 500-foot spacing buffer between rentals, and Lake Charles passed its first short-term rental ordinance in December 2025 and tightened it in February 2026. For a full rundown, see BNBCalc's guide to Louisiana STR rules.
One pattern shows up in Redfin's “Compete Scores”: Monroe scores 59 out of 100, Baton Rouge and Shreveport 44, Lake Charles 42 and New Orleans just 17, which suggests that buyers in New Orleans usually have far more room to negotiate than buyers in Monroe.
Below, we break down six Louisiana markets worth watching, using current data from Zillow, Redfin, BiggerPockets, and AirDNA.
Note: Home price appreciation and rent-growth figures below come from Zillow's Home Value Index (ZHVI), Redfin's median sale price data, and BiggerPockets' Market Finder, which use different methodologies and can vary from one another. We've cited both where available so you can compare. BiggerPockets figures describe each metro, while Zillow and Redfin figures describe the city itself, and Zillow's rent index swings too widely on small samples to cite for Monroe and Lake Charles, so those sections use BiggerPockets for rent. Hammond's section relies on Zillow and BiggerPockets, since current Redfin city data wasn't available for it.
Rising rents, rapid revenue and a perfect score
Monroe is north Louisiana's regional hub, built around St. Francis Medical Center, the University of Louisiana at Monroe and a port on the Ouachita River, and it posts the best AirDNA score in this article – a perfect 100 – on a market that is small enough for that number to deserve a raised eyebrow!
St. Francis Medical Center and the University of Louisiana at Monroe give the city a healthcare-and-education base that usually holds up better than a one-industry town, and the Ouachita River port and highway access keep it connected to the rest of the region. However, a shrinking population (-0.46%) is the “catch” behind the strong rent growth, i.e. rents are rising on a tenant pool that is not growing, so the “demand” has to be underwritten property by property. Redfin shows sale prices up 8.9% on 84 homes sold in August, a thin enough sample that the headline should be read with a grain of salt.
Monroe's AirDNA submarket posts a perfect score of 100/100, with Investability (97), Rental Demand (97) and Revenue Growth (96) at the top, a Seasonality score of 89, and Regulation (60) the softest subscore. Annual revenue per listing averages $32,428 (up 23.5% year-over-year), with an average daily rate of $149.42 (up 3.0%) and occupancy of 68% (up 24.4%). Total active listings sit at 452, up 27.0% over the past year, so demand and supply are both growing at once, which is a healthy sign right up until supply outruns demand.
Financing note: Harpoon Capital offers industry leading DSCR Loans for properties in Monroe and all throughout the market area. Check out our full DSCR Loans Program here, or if you want a quote on what terms look like today, fill out this two-minute form!
Sources: Zillow Home Value Index↗ · Redfin Housing Market↗ · BiggerPockets Market Finder↗ · AirDNA↗
Investor Takeaway: Monroe pairs the fastest rent growth and the best STR momentum in this article with a shrinking population and a small listing base. Investors who like the numbers should generally confirm that demand is broad (healthcare staff, students, travelers) before leaning on 24% occupancy growth to continue.
Top-dollar revenue behind a permit freeze
New Orleans is the rare market where the hardest part of owning a short-term rental is getting permission to own one – it earns the most STR revenue in this article by a wide margin, and it has not taken a new commercial short-term rental application since June 2023.
Ochsner Health System, Tulane University and a tourism economy that never really closes give New Orleans one of the most recognizable rental markets in the country, and Redfin's search data, which tracks home searches rather than actual moves, shows Mobile, Los Angeles and Washington buyers looking at the city more than any other metros, while New Orleans buyers themselves most often search Baton Rouge. However, the rules are the story: BNBCalc reports that the city stopped taking new commercial short-term rental applications in June 2023, and the realistic path today is an owner-occupied permit, which means buying or owning a home, living in it, claiming the Louisiana “homestead exemption” and applying during one of the city's quarterly windows. The physical risks need pricing too: Redfin's First Street data rates 99% of New Orleans properties at risk of severe flooding over the next 30 years and the wind risk as extreme, so insurance quotes belong in the underwriting before the offer.
New Orleans posts an AirDNA market score of 72/100, with Revenue Growth (87) and Seasonality (82) in good shape, Investability (71) and Regulation (67) in the middle, and Rental Demand (49) the weak spot. Annual revenue per listing averages $47,807 (up 3.5% year-over-year), the highest in this article, with an average daily rate of $259.25 (down 1.4%) and occupancy of 55% (up 3.9%). Total active listings sit at 4,763, down 11.0% over the past year, which is what a “permit freeze” looks like in the data. Marigny/Bywater leads the submarkets with a score of 92 and $41K in revenue per listing.
Financing note: Harpoon Capital offers industry leading DSCR Loans for properties in New Orleans and all throughout the market area. Check out our full DSCR Loans Program here, or if you want a quote on what terms look like today, fill out this two-minute form!
Sources: Zillow Home Value Index↗ · Redfin Housing Market↗ · BiggerPockets Market Finder↗ · BNBCalc New Orleans STR Guide↗ · AirDNA↗
Investor Takeaway: New Orleans pairs the highest STR revenue and the fastest appreciation in this article with the tightest permitting and the heaviest flood and wind exposure. Investors should treat it as a long-term rental market first, plan for owner-occupancy if the STR side matters, and get insurance quotes before they get excited.
Thinking About One of These Markets?
Get a same-day DSCR Loan quote for a specific deal, or browse the full Harpoon Capital DSCR Loan Program to see rates, LTV, and qualification details before you keep reading.
Capital-city cash flow in a crowded STR field
Baton Rouge is Louisiana's capital and the home of LSU, which gives it a government-and-university rental base that behaves more like a Southern college town than a coastal resort, and a short-term rental market that has been adding listings faster than it has been adding guests.
LSU, state government and the petrochemical corridor along the Mississippi River give Baton Rouge a diversified job base, i.e. an economy that does not depend on a single employer, and Redfin's search data, which tracks home searches rather than actual moves, names New Orleans as the top source of homebuyers searching to move into Baton Rouge, ahead of Mobile and Dallas. On the STR side, the city has not enacted a citywide ban and regulates short-term rentals mainly through occupational licensing and local lodging taxes, though parish zoning may limit them in some residential districts (see Awning's Louisiana guide), so confirm the rules for the specific address.
Baton Rouge posts an AirDNA market score of 72/100, with Seasonality (95) and Investability (81) in good shape, Rental Demand (74) in the middle, and Revenue Growth (41) the weak spot. Annual revenue per listing averages $25,786 (down 10.4% year-over-year), with an average daily rate of $148.42 (down 5.7%) and occupancy of 52% (down 4.1%). Total active listings sit at 1,186, up 13.9% over the past year, the classic pattern of “oversupply,” a market with more rooms than guests.
Financing note: Harpoon Capital offers industry leading DSCR Loans for properties in Baton Rouge and all throughout the market area. Check out our full DSCR Loans Program here, or if you want a quote on what terms look like today, fill out this two-minute form!
Sources: Zillow Home Value Index↗ · Redfin Housing Market↗ · BiggerPockets Market Finder↗ · AirDNA↗
Investor Takeaway: Baton Rouge is a dependable long-term rental market with a crowded short-term one. Investors should generally underwrite the long-term rent as the base case and treat nightly income as a bonus, since rates, occupancy and revenue are all moving the wrong way while supply grows.
Steady statistics and stiff spacing rules
Shreveport is northwest Louisiana's anchor market, built on healthcare, education and gaming, and it offers some of the lowest entry prices in this article alongside the clearest short-term rental rulebook – down to a measured distance between neighbors!
Willis-Knighton Health System, a gaming industry anchored by the riverfront casinos and Barksdale Air Force Base across the river in Bossier City give Shreveport a steady employment base, and Redfin's search data, which tracks home searches rather than actual moves, shows Dallas homebuyers looking at Shreveport more than any other metro. The short-term rental rules are unusually specific: BNBCalc reports that whole-home rentals are allowed in most residential and commercial districts with a permit from the Shreveport-Caddo Metropolitan Planning Commission, a 500-foot “spacing rule” between rentals, a combined tax of 15.6% on every stay, and a permit that does not transfer when the property sells, i.e. a buyer has to register again.
Shreveport's AirDNA submarket posts a score of 96/100, with Investability (99), Rental Demand (88) and Seasonality (95) at the top and Revenue Growth (54) the soft spot. Annual revenue per listing averages $28,617 (down 3.6% year-over-year), with an average daily rate of $138.67 (up 2.1%) and occupancy of 62% (down 4.2%). Total active listings sit at 490, up 6.5% over the past year, so the score describes a good market that is starting to feel its own supply.
Financing note: Harpoon Capital offers industry leading DSCR Loans for properties in Shreveport and all throughout the market area. Check out our full DSCR Loans Program here, or if you want a quote on what terms look like today, fill out this two-minute form!
Sources: Zillow Home Value Index↗ · Redfin Housing Market↗ · BiggerPockets Market Finder↗ · BNBCalc Shreveport STR Guide↗ · AirDNA↗
Investor Takeaway: Shreveport offers the lowest prices and the highest rent-to-price ratio on the list, with STR rules that are strict but readable. The permit does not follow the property, so investors buying a rental with an existing permit should confirm that it is not part of the price they are paying for.
Student-town stability and softer STR stats
Hammond is a university town in Tangipahoa Parish, home to Southeastern Louisiana University, roughly an hour from both New Orleans and Baton Rouge, and it posts the fastest population growth in this article even as its short-term rental numbers soften.
Southeastern Louisiana University, a healthcare base and a retail corridor on the interstate give Hammond a steady rental audience, i.e. students, staff and commuters who usually keep demand more stable than a tourism-only market. However, population growth of 1.12% is a real positive in a state where four of the six markets in this article are shrinking, and Zillow's rent growth of 4.6% points the same way.
Hammond's AirDNA submarket posts a score of 82/100, with Seasonality (91) in good shape, Investability (77) and Rental Demand (70) in the middle, and Revenue Growth (61) and Regulation (66) softer. Annual revenue per listing averages $24,765 (down 9.3% year-over-year), with an average daily rate of $162.74 (down 5.2%) and occupancy of 45% (down 5.5%). Total active listings sit at 260, up 14.5% over the past year, so supply is growing while every revenue measure shrinks.
Financing note: Harpoon Capital offers industry leading DSCR Loans for properties in Hammond and all throughout the market area. Check out our full DSCR Loans Program here, or if you want a quote on what terms look like today, fill out this two-minute form!
Sources: Zillow Home Value Index↗ · BiggerPockets Market Finder↗ · AirDNA↗
Investor Takeaway: Hammond is a long-term rental story with a university under it and a short-term rental market that is moving in the wrong direction. Investors should generally lean on the student and commuter demand, and treat the STR side with caution until listings stop outrunning bookings.
Casino-country stays under a brand-new rulebook
Lake Charles is southwest Louisiana's casino-and-energy city, where listings advertise their distance to the casinos and the golf the way other markets advertise their distance to the beach, and its short-term rental market is scoring a 98 on AirDNA with revenue growing 12.4% and supply shrinking.
Energy employers such as Citgo Petroleum, Lake Charles Memorial Hospital and the casino resorts give the city a diversified base, and Redfin shows days on market nearly halved from 99 to 53 as sales jumped 36.9%. On the rules side, BNBCalc reports that Lake Charles had no short-term rental ordinance until December 5, 2025 and that the council tightened it on February 20, 2026: rentals are permitted in all zoning districts except residential and neighborhood districts, which require a “Minor Conditional Use Permit,” and every short-term rental needs a permit. Additionally, the weather needs pricing, since Redfin's First Street data rates the wind risk as extreme and 23% of properties at risk of severe flooding, so insurance belongs in the underwriting.
Lake Charles' AirDNA submarket posts a score of 98/100, with Seasonality (95) and Revenue Growth (92) leading, Investability (85) and Rental Demand (79) in good shape, and Regulation (61) the softest subscore. Annual revenue per listing averages $30,895 (up 12.4% year-over-year), with an average daily rate of $139.85 (down 0.1%) and occupancy of 67% (up 14.3%). Total active listings sit at 562, down 2.8% over the past year, so revenue and occupancy are climbing on a shrinking supply base. Top listings such as a casino-adjacent lodge booking at 86% occupancy and $123K in revenue show where the premium sits.
Financing note: Lake Charles deals often qualify on TTM actuals or STR revenue projections given the casino-driven revenue base, and Harpoon Capital offers industry leading DSCR Loans for properties throughout the market area. Check out our full DSCR Loans Program here, or if you want a quote on what terms look like today, fill out this two-minute form!
Sources: Zillow Home Value Index↗ · Redfin Housing Market↗ · BiggerPockets Market Finder↗ · BNBCalc Lake Charles STR Guide↗ · AirDNA↗
Investor Takeaway: Lake Charles pairs the strongest short-term rental momentum outside Monroe with shrinking supply and a brand-new, still-settling ordinance. Investors should confirm the permit path for the specific zoning district first, and underwrite occupancy near 67% rather than the headline growth rate.
| MARKET | AIRDNA SCORE |
ANNUAL REVENUE |
AVG. DAILY RATE |
OCCUPANCY | YOY LISTING GROWTH |
|---|---|---|---|---|---|
| Monroe | 100 | $32,428 (+23.5%) |
$149.42 (+3.0%) |
68% (+24.4%) | +27.0% (452 listings) |
| Lake Charles | 98 | $30,895 (+12.4%) |
$139.85 (-0.1%) |
67% (+14.3%) | -2.8% (562 listings) |
| Shreveport | 96 | $28,617 (-3.6%) |
$138.67 (+2.1%) |
62% (-4.2%) | +6.5% (490 listings) |
| Hammond | 82 | $24,765 (-9.3%) |
$162.74 (-5.2%) |
45% (-5.5%) | +14.5% (260 listings) |
| New Orleans | 72 | $47,807 (+3.5%) |
$259.25 (-1.4%) |
55% (+3.9%) | -11.0% (4,763 listings) |
| Baton Rouge | 72 | $25,786 (-10.4%) |
$148.42 (-5.7%) |
52% (-4.1%) | +13.9% (1,186 listings) |
Source: AirDNA, current as of 2026. Scores and figures reflect each market or submarket as defined by AirDNA and may not correspond 1:1 with city or county boundaries. As of October 2026
A few patterns stand out. The best momentum sits at the edges of the state: Monroe and Lake Charles both post double-digit revenue growth, with Monroe's supply growing 27.0% to keep up while Lake Charles' supply shrinks 2.8%. New Orleans earns nearly 50% more per listing than the next-highest market ($47,807 against $32,428) on a supply base that fell 11.0%, which is what a permit freeze looks like in the data. The capital region is the soft spot, where Baton Rouge and Hammond show revenue down 10.4% and 9.3%, rates down 5% to 6% and listings up 14%, a combination that tends to signal oversupply.
Louisiana's real estate landscape offers a strategy for nearly every type of investor:
Market-level data is a starting point, not a substitute for underwriting the specific property, neighborhood, and rental strategy in front of you. Louisiana leaves short-term rental regulation to its cities, and New Orleans and Shreveport both ration or restrict permits, so confirm what's legal at your specific address before you close, and price hurricane and flood insurance into every coastal deal.
If you are ready to invest in one of these markets, start with our Louisiana DSCR loans page.
Sources: Zillow Home Value Index & Rental data, Redfin housing market data, BiggerPockets Market Finder, AirDNA market and submarket data (airdna.co), BNBCalc Louisiana STR guide and Awning Louisiana STR regulations. Data collected as of October 2026, ahead of the 2027 investing season.
Louisiana has no statewide short-term rental license, but state sales tax and local lodging taxes apply, and the combined rate varies by city: BNBCalc puts Shreveport's at 15.6% on every stay. Rates change, so confirm current figures with the parish before you close.
No. Out-of-state and first-time investors can buy investment property in Louisiana without any license. A DSCR loan qualifies you primarily based on the property itself rather than your personal income or professional credentials, which is part of why it's such a common financing tool for out-of-state buyers.
A DSCR (Debt Service Coverage Ratio) loan qualifies a property primarily based on the property (its value, value and location) relative to its mortgage payment, rather than the borrower's personal income or tax returns. If the property's projected or actual rent covers the mortgage payment (a DSCR of 1.00x or higher), it's generally easier to qualify, and Harpoon Capital also offers options for deals below 1.00x.
Probably only if you live there. New Orleans stopped taking new commercial short-term rental applications in June 2023, so the realistic path is an owner-occupied permit, which means claiming the Louisiana homestead exemption and applying during one of the city's quarterly windows. Confirm the current rules with the city before buying with an STR strategy in mind.
Harpoon Capital's DSCR loan program allows as little as 15% down on qualifying purchases, up to 85% LTV, with cash-out refinances available up to 80% LTV. Exact terms depend on the property, credit profile, and DSCR ratio. Fill out our DSCR Loan Application to see specific numbers for your deal.
Ready to Run the Numbers on a Louisiana Deal?
Whether you're eyeing Monroe's momentum or casino-country stays in Lake Charles, get a same-day rate and terms with our two-minute DSCR quote form, or explore the full Louisiana DSCR Loans Program to see how we qualify the property, not just the borrower.
This article is for informational purposes only and does not constitute investment, legal, or financial advice. Harpoon Capital encourages investors to conduct independent due diligence before making any real estate investment decision.