Ardoyne Plantation House · Photo: Z28scrambler · CC BY-SA 3.0Measured against area pay, Gray costs less to live in than 80% of U.S. towns
It ranks #25 of 161 in Louisiana for affordability. About the same as a year ago, 9% above the Louisiana typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Houma-Bayou Cane-Thibodaux, LA metro area ($64K). How TownRatings grades cost of living
The grade compares costs with what households across the Houma metro earn ($64K, Census 2020–24). The typical home costs 2.2 years of metro income, and 24% of renters pay 30% or more of income for housing.
In dollars
- $233Ktypical home, 9% above the Louisiana typical homeZillow, September 2026
- $1,210a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 85prices across the Houma metro, where the U.S. is 100 (housing 51)BEA Regional Price Parities, 2024
In paychecks the grade
- 2.2 yrsof area income buys the typical home; the typical U.S. town: 3.3$64K, Houma-area income
- 19%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 24%of renters pay 30%+ of income for housing; across Louisiana: 55%Census 2020–24
- 21%of owners do; the typical U.S. town: 20%Census 2020–24
What stands out about housing in Gray
What’s behind Gray’s grade
Measured against what households in the area earn, Gray is more affordable than 80% of U.S. towns, #25 of 161 in Louisiana. Rent pulls the grade down most; property tax holds it up.
Prices here have kept pace with Louisiana: up 0.2% in five years, against 1.2% statewide (Zillow).
Up 0.2% in five years
About the same pace as Louisiana (1.2%).
Show as a table
| January | Gray | Louisiana |
|---|---|---|
| 2017 | $240,000 | $182,000 |
| 2018 | $224,000 | $184,000 |
| 2019 | $216,000 | $185,000 |
| 2020 | $235,000 | $195,000 |
| 2021 | $240,000 | $205,000 |
| 2022 | $232,000 | $216,000 |
| 2023 | $230,000 | $218,000 |
| 2024 | $237,000 | $212,000 |
| 2025 | $236,000 | $212,000 |
| 2026 | $236,000 | $211,000 |
| September 2026 | $233,000 | $214,000 |
A typical Gray home worth $239K in October 2016 is worth about $233K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 7 homes sold in September 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 2.2 years of area income
The calculator starts from the area income the grade uses. Switch to Gray’s own median, or type yours.
That covers a typical Gray home, with $26K to spare.
A two-bedroom rents for about $1,210 a month here, $130 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Gray’s typical property tax (0.63% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,210
Renters already here pay a median of $1,025, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Houma-Bayou Cane-Thibodaux, LA MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Low tax bills, but a high tax rate
The median bill is $881, under the Louisiana median of $1,180, because homes cost less. As a share of value it’s 0.63% a year, against 0.55% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Gray
Only figures published free for the whole country, each labeled with the area it covers: the Houma-Bayou Cane-Thibodaux, LA metro area, or Louisiana. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 85 | LA 88 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 94 | LA 94 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 71 | LA 71 | metro | BEA, 2024 |
| Other services U.S. = 100 | 96 | LA 96 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Gray vs. its neighbors
Of the 2 towns here with a Zillow value, Gray has the 2nd-lowest. Bayou Blue has no Zillow value, so it is in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Gray | A− | $233K | $139K | 0.63% | $1,210 |
| Bayou Blue | B+ | — | $189K | 0.54% | $1,150 |
| Schriever | B+ | $220K | $179K | 0.52% | $1,050 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Gray
Is Gray expensive to live in?
Measured against what households in the area earn, Gray costs less than 80% of U.S. towns: an A− for cost of living, #25 of 161 in Louisiana. The typical home costs 2.2 years of the median household income of the Houma-Bayou Cane-Thibodaux, LA metro area ($64K).
How much does a house cost in Gray?
About $233K, Zillow’s typical value for September 2026, down 0.0% in a year. The Louisiana typical home is $214K.
What salary do you need to live in Gray?
To buy the typical home with 20% down at 6.3%, about $58,000 a year, keeping the payment (about $1,340 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $48,000.
How much is rent in Gray?
HUD puts a two-bedroom at about $1,210 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,025 (Census 2020–24).
What are property taxes in Gray?
The median bill is $881 a year, 0.63% of the median home value (Louisiana: $1,180, 0.55%), from the Census 2020–24.
Are home prices in Gray going up?
No: down 0.0% in the past year and 0.2% in five years, against 1.2% across Louisiana (Zillow).
Neighbors talk housing
What Gray buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.