Buras, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Buras, LA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Buras Housing Market Information

With a population of 962, 433 total housing units (homes and apartments), and a median house value of $106,946, house prices in Buras are solidly below the national average.

Mobile homes or trailers are the single most common housing type in Buras, accounting for 58.18% of the town's housing units. Other types of housing that are prevalent in Buras include single-family detached homes ( 38.59%), duplexes, homes converted to apartments or other small apartment buildings ( 1.41%).

Owner-occupied, three and four bedroom dwellings, primarily in mobile homes or trailers are the most prevalent type of housing you will see in Buras. Owner-occupied housing accounts for 88.22% of Buras's homes, and 66.06% have either three or four bedrooms, which is average sized relative to America.

Buras homes and real estate are some of the newest in America. 69.09% of Buras's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Buras real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 24.65%), and before 1939 ( 3.43%). There's also some housing in Buras built between 1970-1999 ( 2.83%).

Vacant housing appears to be an issue in Buras. Fully 12.53% of the housing stock is classified as vacant. Left unchecked, vacant Buras homes and apartments can be a drag on the real estate market, holding Buras real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Buras Home Appreciation Rates

Real estate appreciation rates in Buras's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.15% during the period.

Over the last year, Buras appreciation rates have trailed the rest of the nation. In the last twelve months, Buras's appreciation rate has been 0.25%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Buras were at -1.40%, which equates to an annual appreciation rate of -5.49%.

Notably, Buras's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Louisiana, our data show that Buras's latest annual appreciation rate is lower than 60% of the other cities and towns in Louisiana.

Average Home Values

 

Median Home Value:
$106,946

Buras, LA HOME PRICES

Value Range
> $1,101,000 1.2
$826,001 - $1,101,000 0.0
$550,001 - $826,000 0.0
$440,001 - $550,000 1.7
$330,001 - $440,000 2.2
$220,001 - $330,000 15.3
$110,001 - $220,000 30.6
$55,001 - $110,000 13.8
$0 - $55,000 35.1

Average for LA
Low for Nation

Value Relative to Nation Value Relative to State
73.121996953006 53.6585365853659

Number Of Homes And Apartments:
433

Buras Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
62.45% 2.85% 6 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,083 / per month

Homeownership Rate

Homeownership
Owners 88.22
Renters 11.78
Vacant 12.53

Housing Market Details

 

Age of Homes

AGE OF Buras HOMES
2000 or Newer 69.1
1970 - 1999 2.8
1940 - 1969 24.6
1939 or Older 3.4

Types of Homes

TYPE OF Buras HOMES
Single-Family 38.6
Townhomes 0.0
Small Apt. Buildings 1.4
Apt. Complexes 0.0
Mobile Homes 58.2
Other 1.8

Home Size

SIZE OF Buras HOMES
No Bedroom 1.21
1 Bedroom 8.28
2 Bedrooms 24.44
3 Bedrooms 51.11
4 Bedrooms 14.95
5 or more bedrooms 0.00

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Zip Codes in Buras, LA