Local places ranked as affordable

March 31-- Mar. 31--Galliano, Schriever and Cut Off are ranked in the top 10 most affordable cities in Louisiana, according to financial technology company SmartAsset.

The company's study examined closing costs, taxes, insurance and mortgage payments for the average home in every county in the U.S. and every city with a population greater than 5,000.

It then took that five-year cost as a proportion of median household income to determine affordability.

The most affordable places were those in which total housing costs on average accounted for the smallest proportion of the median income.

Here are the state rankings for local communities:

--No. 2 -- Galliano, $2,346 closing costs, $522 property tax, $1,490 homeowners insurance, $5,318 mortgage payment and $56,392 median income.

--No. 4 -- Schriever, $2,276 closing costs, $498 property tax, $1,313 homeowners insurance, $4,687 mortgage payment and $47,429 median income.

--No. 6 -- Cut Off, $2,416 closing costs, $610 property tax, $1,665 homeowners insurance, $5,944 mortgage payment and $58,517 median income.

View the report at https://smartasset.com/mortgage/how-much-house-can-i-afford#louisiana.

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