Cost of Living in New Iberia, LA

With a cost of living index of 70, New Iberia, LA is one of the most affordable cities in the country. Living here is 30% cheaper than the national average and 5% below the Louisiana state average of 74. With a population of 27,926, New Iberia is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in New Iberia's cost of living. The median monthly rent is $878 (33% below the US median of $1,319), and the median home value sits at $150,300 (51% 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 New Iberia is $50,802, which is 32% lower than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to New Iberia. The area sees an average annual temperature of 69.2°F, with summers averaging 83°F and winters around 55°F. Annual rainfall totals 59.7 inches spread over roughly 129 days.

Everyday prices in the Lafayette, LA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.