Quick facts: Olla, LA

Quick Facts

98.7
Cost of Living
below US average
1,617
Population
18.55
Crime Rate per 1000
below US average
$45,000
Median Income
below US average
$90,000
Median House Price
above US average
$1358
Average Rent
below US average
12%
Poverty Rate
above US average
3.0%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $45,000.

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Income Needed to Buy

βœ“ Affordable
$28k/year
Based on $90,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($45,000) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$58k/year
Based on $1358/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $58k vs median $45,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Olla, LA

Olla is a small town located in LaSalle Parish, Louisiana, with a population of around 1,200 residents. Nestled in the heart of Central Louisiana, Olla is known for its tight-knit community and Southern charm. The town is surrounded by picturesque landscapes, including forests and rivers, making it a serene environment for outdoor activities such as fishing, hunting, and hiking. Olla is historically significant, with roots dating back to the early 20th century, and has a few local landmarks that reflect its rich heritage. The town hosts several events throughout the year that bring the community together, highlighting local culture and traditions. Education in Olla falls under the LaSalle Parish School System, which provides educational opportunities for the town's youth. The local economy is primarily driven by agriculture and small businesses. While Olla may be small, it boasts a welcoming atmosphere and offers an authentic slice of Southern life, making it a unique place to visit or call home.

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