Updated 2026 · Based on median market data for Opelousas, LA
The median monthly rent in Opelousas, LA is $920, translating to $11,040 in annual gross rental income per unit. The rent-to-price ratio is 0.71% — below the 1% rule but within a range where deals can work with good financing and disciplined expense management. For context, a 0.71% rent-to-price ratio means that for every $100,000 invested in property, you collect approximately $708/mo in gross rent. The gross rent multiplier of 11.8x means it takes 11.8 years of gross rent to equal the purchase price — an excellent ratio that signals strong income relative to cost.
Renters in Opelousas spend approximately 24% of the local median household income ($45,760) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. The 30% affordability ceiling puts maximum supportable rent at approximately $1,144/mo — a full $224/mo above the current median of $920. This gap represents real upside for landlords who invest in property upgrades that justify premium rents.
The vacancy rate in Opelousas is 6.7%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Budget for one month of vacancy per year in your underwriting to be conservative. Population growth of 0.3% annually provides stable demand.
Opelousas's GRM (price divided by annual rent) is 11.8x. A GRM under 12x is excellent — it means you are paying less than 12 years of gross rent for the property, suggesting strong income relative to price. Markets with GRMs this low typically attract institutional and out-of-state investors seeking yield, which can create competition for the best deals. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x. To beat Opelousas's median GRM, target properties where you can achieve rents above $920 through renovations, better marketing, or targeting underserved tenant segments — or buy at a discount to the $130,000 median price. Every point lower on GRM translates to roughly 0.5-0.8% improvement in your cap rate.
At the median rent of $920/mo, a single-family rental in Opelousas generates approximately $11,040 in gross annual income. After accounting for 6.7% vacancy ($740 lost), property taxes of $702, insurance (~$520), and maintenance (~$520), the estimated NOI is $8,558 per year, or $713/mo. Adding an 8% management fee ($883/yr) reduces investor cash flow further. Before debt service, you are looking at approximately $7,675/yr in landlord net income. Whether this is attractive depends on your total capital invested — at a $26,000 down payment, the unlevered yield on equity from NOI alone is 32.9%.
Rent growth in Opelousas is driven by the interplay of population growth (0.3%), income growth, and housing supply constraints. With 0.3% population growth, organic rent growth will be slower — roughly 1.5% annually, taking rents from $920 to $991 over 5 years. The affordability headroom of $224/mo between current rents and the 30% income threshold provides substantial room for rent increases without pushing tenants into financial stress.
The median income of $45,760 supports a mixed tenant base of young professionals, small families, and long-term renters. In a smaller market of 50,000 residents, word-of-mouth and local listing platforms may be more effective than national sites for finding tenants.
Opelousas is a smaller market where professional PM options may be limited. Fees can run 10-12% of rent, and the quality of available managers varies widely. At $920/mo, management costs roughly $101/mo. Self-management makes sense if you are local, have fewer than 5 units, and the rent level justifies your time — at $920/mo, self-management of a small portfolio saves meaningful dollars but professional management becomes economical at 3-4 units.
Opelousas vs Louisiana state average and national average across key investment metrics. Opelousas outperforms both benchmarks on cap rate.