Personal loans in Madison Parish, LA: county guide

First look: Madison Parish, LA

With an estimated 9,513 residents (ACS 2020 to 2024), Madison Parish ranks 57th of 64 in Louisiana for population. Density: about 15.2 residents per square mile across 624 square miles of land. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Tallulah is the biggest of its 4 Census places, at roughly 5,969 people (63% of the county total). At 9,513 people, Madison Parish is a small survey sample, so small differences in these figures may be noise.

Where Madison Parish differs from the rest of Louisiana

Out of every Louisiana county, Madison Parish is most unusual on these measures.

• Few Louisiana counties match Madison Parish on the poverty rate: 34.5% here, 18.9% for the state, ranking 2nd highest of 64. Free help, such as utility and rent assistance, should come before any loan.
• Madison Parish ranks 2nd lowest of 64 Louisiana counties for homeownership: 53%, against 67% statewide. Many renters means few borrowers have home equity to fall back on.
• Madison Parish ranks 3rd highest of 64 Louisiana counties for households without a vehicle: 14.0%, against 8.4% statewide. Without a car, transit and ride costs belong in the budget before any payment.
• Few Louisiana counties match Madison Parish on median gross rent: $649/mo here, $1,064/mo for the state, ranking 3rd lowest of 64. Cheaper housing gives many renters more slack in a budget.

Jobs and commutes in Madison Parish

The biggest employer of Madison Parish residents, by industry, is education and health care at 30% of workers, followed by retail trade (12%). Madison Parish over-indexes on agriculture, forestry and mining: 8% versus 3% in Louisiana. Averaged over the five survey years, 5.5% of the labor force was out of work and looking. Long commutes are the exception here: 12% of workers spend 45 minutes or longer getting to work.

If your hours swing with the season or with overtime, size a loan payment against your base pay, not your best month.

Earnings across Madison Parish households

Madison Parish households have a median income of $35,456 (ACS 2020 to 2024), which ranks 61st of 64 in Louisiana.

About 49% of households earn under $35,000, while 15% clear $100,000. Poverty rate, Madison Parish: 34.5%; Louisiana: 18.9%. Gini index for Madison Parish: 0.515. None of these numbers decides a Madison Parish application. Lenders weigh your own documented income against your own debts.

What it costs to live in Madison Parish

Renters in Madison Parish pay a median of $649 a month, 39% below the Louisiana figure of $1,064. 56% of renting households spend 30% or more of income on rent, and 26% spend half or more. The median owner-occupied home is valued at $96,200, about 2.7 times the median household income. 53% of Madison Parish households own their home and 47% rent. Median construction year: 1975. Against the median U.S. county, Madison Parish rent is 26% below.

No equity to borrow against is the norm for Madison Parish's 47% renters; a credit union share-secured loan is one lower-cost route. 56% of Madison Parish renters are already past the 30% line; one more payment should leave room for a late paycheck.

How Madison Parish compares with nearby counties

The six counties whose centers lie closest to Madison Parish's, from 22 to 31 miles away. Warren County leads the group on income ($59,401), Issaquena County trails ($31,429), and Madison Parish out-earns 2 of the six. The list crosses into Mississippi, where different lending rules and regulators apply.

The communities that make up Madison Parish

Places, by size: the top 4 of 4. Roughly 30% of Madison Parish lives outside all of them, in open country or unnamed settlements. This guide covers each of the 4 places and the rural areas around them.

Budget math at the Madison Parish median

Madison Parish's $35,456 median income, run through a debt-to-income check:

• Start: $2,955 gross per month ($35,456 / 12)
• Median rent: $649, or 22 cents of every gross dollar
• With a 43% ceiling, about $622 remains for car, card, student and any new loan payments

If your rent is above $649, the room shrinks dollar for dollar.

Reading the Madison Parish data as a borrower

Where the Madison Parish numbers stand out, and why it matters for a loan:

• Manufactured housing (12%). Madison Parish owners should get two written repair quotes before borrowing.
• Assistance before credit. With a 35% poverty rate, check no-cost options before any Madison Parish loan.
• Rent squeeze. 56% of renters spend 30%+ of income on rent; borrow only if the loan cuts what you pay overall.

People and households in Madison Parish

Degree holders: 14% of adults over 25. Uninsured, Madison Parish: 8.8%; Louisiana: 7.8%.

Steps before you apply in Madison Parish

A short checklist for Madison Parish borrowers:

• Get a written quote for whatever you are paying for in Madison Parish.
• Line up offers side by side: APR, fees in dollars, total cost.
• Only work with lenders licensed for Louisiana borrowers.
• Lock paid-off cards after consolidating so balances stay at zero.

Who licenses lenders for Madison Parish residents

Madison Parish borrowers fall under statewide rules, enforced by the Louisiana Office of Financial Institutions. Problems with a lender can also go to the CFPB. State-level detail for Madison Parish borrowers is in the Louisiana guide.

Keep exploring

Statewide:

• Louisiana state guide