Louisiana is the thirty-first largest state by area, with a population of 4,659,978 (U.S. Census Bureau, July 1, 2019). Throughout history, there have been important milestones that helped shape Louisiana. Louisiana was first claimed by the French in 1682 and named after King Louis XIV. Louisiana was purchased from France in 1803 as part of the Louisiana Purchase and later became a U.S. state in 1812. Since Louisiana heavily relied on its plantation economy, Louisiana became home to one of the biggest slave populations by 1840 and the largest populations of free blacks in American by 1860 after the Civil War.
Today, Louisiana's economy has a GDP of $255 billion (Bureau of Economic Analysis, July 1, 2018), which is driven by oil production, natural gas, commercial fishing, chemical industries, and agriculture. Many of the leading Fortune 500 companies have their headquarters in Louisiana, including Walmart, Exxon Mobile, and CenturyLink, to name a few.
The most recognized cities in Louisiana are New Orleans, Baton Rouge, and Lafayette.
New Orleans is located in the southeast part of Louisiana and has a population of 388,182. New Orleans is home to French Quarter, Bourbon Street, and Jackson Square. Over the last ten years, New Orleans's housing market has appreciated by 44.67%. When compared to the rest of the nation, New Orleans's housing prices are slightly higher, with the median home price of $205,000 and a median rent of $954.
Baton Rouge is the capital of Louisiana and has a population of 227,549. Baton Rouge is home to Louisiana State Capitol, USS KIDD Veterans Museum, and BREC's Baton Rouge Zoo. Over the last ten years, Baton Rouge's housing market has appreciated by 1.40% annually. When compared to the rest of the country, Baton Rouge's housing prices are significantly less, with the median home price of $162,600 and a median rent of $827.
Lafayette resides in southern Louisiana and has a population of 126,476. Lafayette is home to the LARC's Acadian Village, Cathedral of St. John the Evangelist, and Lafayette Science Museum. Over the last ten years, Lafayette's housing market has appreciated by 1.52% annually. When compared to the rest of the nation, Lafayette's housing prices are slightly less, with the median home price of $181,900 and a median rent of $853.