Housing report for Baton Rouge, LA

Baton Rouge Affordable Housing Report:
Q1 2023

Last updated on Apr 1, 2023

Housing overview of Baton Rouge, LA

856,779

population in Baton Rouge, LA

422,024

workers in Baton Rouge, LA

375,480

housing units needed

Baton Rouge's burgeoning population and dynamic economy have created a significant demand for workforce housing. In this market report, we analyze the current state of the city's housing market, emphasizing the growing need for affordable and immediate housing.

Baton Rouge has a housing gap of 7,473 units; new construction is a drop in the bucket

Population:Across metro Baton Rouge the population has risen to 856,779.
Workforce:Baton Rouge's workforce has grown to 422,024, indicating strong economic growth and increasing demand for housing.
Housing Unit Demand:To accommodate the population and workforce, Baton Rouge requires 375,480 housing units.
Current Housing Stock:The metro area currently offers 368,007 housing units, resulting in a deficit of 7,473 homes.

Baton Rouge workers would need to earn an extra 21.09% to afford the median rental

Median Rental Price:The median rent for an apartment in Baton Rouge is $1,106, highlighting increasing rental prices.
Income Needed to Afford a Rental:A tenant needs to make at least $39,816 and pay $2,212 upfront to move-in (first month’s rent and security deposit). Typically, to qualify for a home, a landlord requires 3x rent in income, in addition to credit score minimums and eviction screening. Finally, most apartments charge an application fee.
Median Income in Baton Rouge:The city's median income is $31,420, demonstrating a significant affordability gap.
Affordability Gap:The affordability gap in Baton Rouge stands at $8,396. This means that workers need to earn 21.09% more to qualify and afford the median rental in the greater Baton Rouge area.

Expanding affordable workforce housing in Baton Rouge

So how do we house the growing population of healthcare workers, drivers, technicians, and care workers that make up Baton Rouge’s workforce?

Solution 1: Build more housing

Despite the evident need for housing, only 223 permits have been issued so far in 2023, indicating a slow response from the market to address this demand. This shortage has led to increased rental prices

Solution 2: Relocate workers farther outside of the city

We believe workers in our community deserve to live in our community. While some may desire to relocate further their place of work, this is not a viable solution for all workers.

Solution 3: Do more with existing housing

We can do more with our existing housing to meet the needs of the metro-area population. There are exciting developments to address housing shortages and affordability challenges by increasing housing density. Some examples include converting single-family into multi-family homes, commercial to residential conversions, housing ADUs, co-living, and shared housing. At PadSplit, we are growing the country’s leading shared housing marketplace.

Sources: Census, Bureau of Labor & Statistics, ApartmentList, PadSplit

Shared Housing is a fast, cost-effective way to scale affordable housing for the workforce

PadSplit was founded five years ago and has grown to become the country’s largest shared housing marketplace. Real estate investors, homeowners, and community partners work with PadSplit to provide affordable, dignified housing to workers.

To learn more, check out the following:

Hosting on PadSplit PadSplit impact report Rooms for rent in Baton Rouge