City · 5,154 residents · Terrebonne Parish, Louisiana
Gray, Louisiana
In Gray, a typical home is worth $139,400 and typical rent is $1,025 a month. Compared with all of Terrebonne Parish, the typical home value is 26% lower and typical household income is 16% lower.
Typical home value from Zillow, September 2021 to September 2026: from $232,152 to $232,698.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Gray is in Terrebonne Parish. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Terrebonne Parish. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical home in Gray is worth $139,400,26% less than in Terrebonne Parish as a whole ($187,200).
2
The typical household income in Gray is $54,559,16% less than in Terrebonne Parish as a whole ($64,836).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Gray
What homes there are in Gray, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Gray
Terrebonne Parish
Louisiana
United States
Kind of home: Gray and its comparisons
Measure
Gray
Terrebonne Parish
Louisiana
United States
Detached house
61%
71%
65%
61%
Attached house
Unreliable estimate
2%
3%
6%
Building of 2 to 4
Unreliable estimate
3%
8%
8%
Apartments (5 or more)
Unreliable estimate
9%
11%
19%
Mobile home
33%
15%
13%
6%
Boat, RV and other
Unreliable estimate
1%
0%
0%
In Gray, 6 in 10 homes are single-family detached houses; in Terrebonne Parish, 7.
Mobile homes are 33% of homes in Gray, more than in Terrebonne Parish (15%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Gray
Terrebonne Parish
Louisiana
United States
Year built: Gray and its comparisons
Measure
Gray
Terrebonne Parish
Louisiana
United States
Before 1960
Unreliable estimate
16%
18%
26%
1960–1979
33%
31%
28%
24%
1980–1999
27%
25%
26%
25%
2000–2009
16%
16%
14%
14%
2010 or later
16%
12%
14%
11%
Here half of the homes date from 1987 or later; in Terrebonne Parish, from 1983 or later.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K41%
$100K–$200K31%
$200K–$300K14%
$300K–$500K8%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Gray and its comparisons
Measure
Gray
Under $100K
41%
$100K–$200K
31%
$200K–$300K
14%
$300K–$500K
8%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable
$1M or more
Unreliable estimate
The FHA limit for Terrebonne Parish is high ($541,287): at least 95% of owner-occupied homes in Gray are worth less than $500,000.
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99949%
$1,000–$1,499Unreliable
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Gray and its comparisons
Measure
Gray
Under $500
Unreliable
$500–$999
49%
$1,000–$1,499
Unreliable estimate
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,244 a month
Terrebonne Parish: $1,547 a month
Without a mortgage
$382 a month
Terrebonne Parish: $406 a month
Owners with a mortgage
43%
Terrebonne Parish: 49%
In Gray, 43% of owners have a mortgage, and their typical cost is $1,244 a month, against $1,547 in Terrebonne Parish. Without one it drops to $382.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
GrayNo clear change
Terrebonne Parish+23%
Louisiana+33%
United States+53%
Typical rent
GrayNo clear change
Terrebonne Parish+25%
Louisiana+23%
United States+33%
Typical household income
GrayNo clear change
Terrebonne Parish+33%
Louisiana+23%
United States+29%
Change since 2015–2019: Gray and its comparisons
Measure
Gray
Terrebonne Parish
Louisiana
United States
Typical home value
No clear change
+23%
+33%
+53%
Typical rent
No clear change
+25%
+23%
+33%
Typical household income
No clear change
+33%
+23%
+29%
Since 2015–2019, home values in Gray moved so little that the Census cannot say whether they rose or fell.
Since 2015–2019, the typical rent in Gray did not change clearly, according to the Census.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Gray and its comparisons
Measure
Gray
Terrebonne Parish
Louisiana
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
7.8%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
1.3%
0.9%
More than one person per room
Unreliable estimate
2.9%
2.3%
3.4%
People per household
2.62
2.49
2.49
2.53
Drive alone
85%
84%
79%
69%
Carpool
Unreliable estimate
10%
9%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
Unreliable estimate
2%
3%
Work from home
Unreliable estimate
3%
8%
15%
Other means
Unreliable estimate
2%
2%
2%
Typical commute
20 to 29 minutes
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
Households in Gray are bigger: 2.62 people on average; in Terrebonne Parish, 2.49.
The car rules in Gray: 85% of workers drive to work alone, and the typical trip takes 20 to 29 minutes.
Do the math
What would you pay each month for a home in Gray?
A typical home is within reach of the typical income
We start with a typical home in Gray, worth $139,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 23% of the typical household income in Gray, which is $54,559 a year.
The calculator's FHA and conventional loan limits are those of all of Terrebonne Parish.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Gray. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $4,879 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,099
at 7.18% · 30 years
Loan amount
$136,875
Total interest
$196,931
Paid off in
November 2056
Includes $2,354 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,273 a month
Your payment · 24%
Tight
$1,273 to $1,637 a month
Hard
more than $1,637 a month
Compared with the typical household income in Gray ($54,559 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$927
Property tax
$52
Home insurance
$58
FHA mortgage insurance (MIP)
$62
You need at least $4,879 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,099; principal and interest $927.
The city and its county
Gray and Terrebonne Parish
Gray is in Terrebonne Parish, Louisiana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Gray
Map of Terrebonne Parish, Louisiana, with Gray marked. Around it, the neighboring counties.
Gray
Terrebonne Parish
Other cities with a page
Gray's own numbers
Typical home value
$139,400
Typical monthly rent
$1,025
Typical yearly household income
$54,559
Households that own their home
80%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Terrebonne Parish
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,098
Price change over 5 years (FHFA)
+13%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Terrebonne Parish.
A typical home in Gray is worth $139,400: 26% below the parish and 36% below Louisiana. With the typical household income in Gray ($54,559 a year), a typical home costs 2.6 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Gray2.6 years
Terrebonne2.9 years
Louisiana3.6 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Terrebonne Parish
According to FHFA’s house price index, home prices in Terrebonne Parish rose 20% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Terrebonne Parish.
Yearly change in FHFA’s price index in Terrebonne Parish, 2016 to 2025
2016: +2.5% +2.5% 2016
2017: −0.8% −0.8% 2017
2018: +0.5% +0.5% 2018
2019: +1.8% +1.8% 2019
2020: +2.2% +2.2% 2020
2021: +2.8% +2.8% 2021
2022: +10.2% +10.2% 2022
2023: +2.0% +2.0% 2023
2024: −2.7% −2.7% 2024
2025: +0.6% +0.6% 2025
Change in FHFA’s price index in Terrebonne Parish, Louisiana and the United States
Period
Parish
Louisiana
U.S.
Last year (2025)
+0.6%
+1.8%
+2.9%
5 years (2020–2025)
+13%
+22%
+47%
10 years (2015–2025)
+20%
+38%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Gray next to Terrebonne Parish, Louisiana and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Gray$139,400
Terrebonne$187,200
Louisiana$216,500
United States$332,700
Typical monthly rent
Gray$1,025
Terrebonne$1,065
Louisiana$1,064
United States$1,413
Typical yearly household income
Gray$54,559
Terrebonne$64,836
Louisiana$60,756
United States$80,734
See the full table
Gray next to Terrebonne Parish and Louisiana
Measure
Gray
Terrebonne Parish
Louisiana
U.S.
Typical home value
$139,400 ▼26% below the parish
$187,200
$216,500
$332,700
Typical monthly rent
$1,025 ▼4% below the parish
$1,065
$1,064
$1,413
Typical yearly household income
$54,559 ▼16% below the parish
$64,836
$60,756
$80,734
Households that own their home
80% ▲4 points above the parish
75%
67%
65%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Terrebonne Parish. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Gray
For a typical $139,400 home in Gray, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, an example home insurance and mortgage insurance when it applies. It leaves out property tax because the Census Bureau doesn't publish Gray's rate.
FHA, 3.5% down$1,047a month
Least cash to close
Down payment
$4,879
Cash to close
$9,061
Rate
7.18%
Mortgage insurance
FHA MIP · $62
Conventional, 5% down$1,021a month
Down payment
$6,970
Cash to close
$11,152
Rate
7.18%
Mortgage insurance
PMI · $66
Conventional, 20% down, no PMI$814a month
Down payment
$27,880
Cash to close
$32,062
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$942a month
Down payment
$20,910
Cash to close
$25,092
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Gray
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,047
$4,879
$136,875
7.18%
FHA MIP · $62
$9,061
580
Conventional, 5% down
$1,021
$6,970
$132,430
7.18%
PMI · $66
$11,152
620*
Conventional, 20% down, no PMI
$814
$27,880
$111,520
7.18%
None
$32,062
620*
ITIN, 15% down (example)
$942
$20,910
$118,490
8.18%
None
$25,092
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Gray is $1,025 a month: 4% below the parish.
HUD publishes a fair market rent for all of Terrebonne Parish, by unit size. To pay the 2-bedroom one ($1,098 a month) without spending more than 30% of your income, you would need to earn $21.12 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Terrebonne Parish (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$765
$14.71
$30,600
1 bedroom
$903
$17.37
$36,120
2 bedrooms
$1,098
$21.12
$43,920
3 bedrooms
$1,335
$25.67
$53,400
4 bedrooms
$1,443
$27.75
$57,720
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Gray
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Gray has 2 ZIP codes with their own.
For 2 bedrooms it runs from $1,130 in 70364 to $1,240 in 70359.
2 of the 2 are above the fair market rent for Terrebonne Parish ($1,098).
Fair market rent by ZIP code and size in Gray, fiscal year 2027.
70359
$860
$1,020
$1,240
$1,510
$1,630
70364
$790
$930
$1,130
$1,370
$1,490
ZIP code2 bd3 bd
70359 $1,240$1,510
70364 $1,130$1,370
2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Gray when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Terrebonne Parish. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Gray or Terrebonne Parish. The ones below are statewide in Louisiana: they work in Gray the same as in the rest of the state.
Louisiana state corporation 30-year mortgage for first-time buyers with 4% of the loan in assistance, as a 0% second mortgage forgiven after 60 months.Offered by Louisiana Housing Corporation (LHC).
Louisiana state corporation 30-year mortgage with 4% of the loan in assistance, as a 0% second mortgage forgiven after 60 months; you do not need to be a first-time buyer, but you cannot own another home at closing.Offered by Louisiana Housing Corporation (LHC).
No legal help resource on our list is for Gray or Terrebonne Parish in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Gray and all of Terrebonne Parish. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Gray?
The typical home value in Gray is $139,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Terrebonne Parish it is $187,200.
How much does it cost to rent in Gray?
Typical rent in Gray is $1,025 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Terrebonne Parish is $1,098.
What is the FHA loan limit in Gray?
Gray uses the FHA limit for all of Terrebonne Parish (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
Where can I find free help to buy or rent in Gray?
We found no HUD-approved counseling agencies with an office in Terrebonne Parish; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
