Cost Of Living in Prospect, LA

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5%

Overall NAT. AVG.

6%

Goods & Services NAT. AVG.

3%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Prospect	Louisiana	National
Cost of living	95	91	100
Goods & Services	94	96	100
Groceries	96	95	100
Health care	85	99	100
Housing	97	81	100
Transportation	98	96	100
Utilities	98	84	100

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Cost Of Living Quick Facts

The cost of living in Prospect is 5% higher than the Louisiana average
The cost of living in Prospect is 5% lower than the national average
Prospect housing is 3% lower than the national average
Louisiana general sales tax is 13% lower than the national average
Louisiana state income tax is 29% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$50,655	$4,221	$1,182	$1,520
Renters	$0	$0	$0	$0

Louisiana Sales Tax

State	General Sales Tax	With Max Surtax
Louisiana	4.45%	11.45%

Louisiana Income Tax

State	Income Tax (Low)	Income Tax (High)
Louisiana	1.85%	4.25%

Goods & Services

Item	Prospect	National avg.	Difference
Haircut	$23.17	$24.26	4.5%
Beauty Salon	$35.17	$45.56	22.8%
Toothpaste	$3.68	$3.70	0.6%
Shampoo	$1.07	$1.28	16.4%
Movie	$10.30	$12.13	15.1%
Bowling	$15.00	$18.00	16.7%

Groceries

Item	Prospect	National avg.	Difference
Ground Beef	$5.99	$5.84	2.7%
Fried Chicken	$1.69	$1.57	7.4%
Milk	$4.49	$4.67	3.9%
Potatoes	$5.07	$4.93	2.8%
Pizza	$11.12	$12.09	8.0%
Beer	$9.97	$10.41	4.2%

Health Care

Item	Prospect	National avg.	Difference
Optometrist	$135.00	$125.68	7.4%
Doctor	$79.00	$135.78	41.8%
Dentist	$99.88	$113.29	11.8%
Ibuprofen	$10.05	$10.65	5.7%
Lipitor	$509.31	$468.60	8.7%

Housing

Item	Prospect	National avg.	Difference
Home Price	$179,100.00	$184,700.00	3.0%
Avg. Mortgage Payment	$1,793.84	$2,346.69	23.6%
Apartment Rent	$0.00	$949.00	100.0%

Transportation

Item	Prospect	National avg.	Difference
Gasoline	$3.16	$3.46	8.8%
Tire Balancing	$67.80	$59.92	13.1%

Utilities

Item	Prospect	National avg.	Difference
All Electricity	$190.12	$193.99	2.0%
Phone	$186.90	$192.25	2.8%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Boyce, LA	1,236	79	21.1%
Colfax, LA	2,261	80	19.5%
Pollock, LA	566	86	13.8%
Dry Prong, LA	459	87	12.6%
Pineville, LA	14,179	90	9.5%
Prospect, LA	177	95	4.6%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Linn Grove, IA	177	77	23.4%
Woden, IA	177	77	23.3%
Gaylord, KS	177	70	29.6%
Bay View, MI	177	97	3.4%
Sobieski, MN	177	92	8.5%
Prospect, LA	177	95	4.6%