Cost of Living in Lake Providence, LA

With a cost of living index of 60, Lake Providence, LA is one of the most affordable cities in the country. Living here is 40% cheaper than the national average and 14% below the Louisiana state average of 74. Lake Providence is a small community of 3,424 residents.

Housing costs are the biggest factor in Lake Providence's cost of living. The median monthly rent is $762 (42% below the US median of $1,319), and the median home value sits at $75,200 (75% below the national median of $304,900). At current prices, the median home costs roughly 3x the median household income — well within traditional affordability guidelines.

The median household income in Lake Providence is $24,670, which is 67% lower than the national median of $75,149. Residents spend roughly 37% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.