Investing in St. Tammany County
St. Tammany County covers 3 rental markets we actively finance in Louisiana — Covington, Mandeville, Slidell. Across those markets the median investment basis averages $346,667, a long-term lease averages $1,850/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $2,404. That produces a county-wide average DSCR ratio near 0.78x.
Basis varies more inside St. Tammany County than the average suggests. Slidell is the lowest entry point at roughly $265,000, while Slidell currently models the strongest coverage ratio in the county at 0.82x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.