With a 70k income, homeownership in Louisiana might be more challenging, especially in New Orleans. Financial advisors recommend spending about 3 to 4 times your annual income on a home, setting your budget between $210,000 and $280,000.

However, the median home price in New Orleans is approximately $320,000, which exceeds your maximum affordability range. This suggests that the major market may be less accessible at your current income level.

That said, more affordable options may be found in other areas such as Baton Rouge and Lafayette, where prices average around $250,000. Louisiana has a property tax rate of 0.57%, or roughly $1,824 per year on an average home. Considering a cost of living below the national average, you might need to explore alternative locations or financing strategies to meet your homeownership goals.