Shreveport Ranked Among Most Affordable Cities for Rent in New Study

Shreveport is back in the spotlight, but it's for something good this time. Many of us in Shreveport normally have beef with Wallet Hub; however, the latest report is making us think maybe living in Shreveport isn't so bad after all.
Where Shreveport Ranks for Affordable Rent
Over 180 big cities were analyzed, and WalletHub wanted to see which cities were the most affordable to live in. Shreveport's rank was 115 out of 182. The overall score was 50.80, and the  Median Annual Gross Rent as a percentage of Median Annual Household Income is 24.26%.

What Does ‘Median Rent as a Percentage of Income’ Mean?

Are you left wondering what Median Annual Gross Rent as a % of Median Annual Household Income means? In simple terms, it's how much of the average household’s income goes toward rent each year. That means that Shreveport is spending 24.26% of its total income on rent. According to DataUSA.io, the median household income in Shreveport, Louisiana, is $48,486. This is based on the 2023 American Community Survey.

Breaking Down the Math for Shreveport Renters

If you break down the Shreveport numbers, this is what it looks like. Going off of the $48,486 annual income in Shreveport, the average Shreveport resident is spending roughly $11,760 per year in rent, which would make our average monthly rent in Shreveport $975. DO those numbers feel right to you?

Rent Is Rising Faster Than Wages Nationwide

Wallet Hub had some scary information in this article, there was a mention of the cost of rent rising by more than 50% over 10 years. According to the Federal Reserve’s Consumer Price Index, wages haven’t increased at the same rate as rent has, making it harder for everyone in America to afford housing.

WalletHub analyzed the median annual gross rent in more than 180 cities, then compared it to the median household income. If you looked at the chart, you might have the same question I had: "How did Bismarck, North Dakota, rank 1st if the rent isn't that cheap?" The crew in Bismarck has the most affordable rent as a percentage of their income. WalletHub said, "The median annual gross rent in the city is around 15.3% of the median annual income. For comparison, Miami residents spend more than double that, or 33.5% of their income."

You can see the complete breakdown listing off all 180 cities below:

Experts suggest finding a rental that is rent-controlled. You have heard of certain cities placing limits on how much landlords can charge for rent, and it also limits how much a landlord can increase rent from year to year. Although that may seem like a simple task, there are only 7 states that have rent regulations in certain cities. Shreveport is not one of those cities.

Do you think Shreveport rent is affordable? Let us know in the comments — or share this if you’re shocked by the numbers.