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Dry Prong, LA Real Estate Market

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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Dry Prong, LA Housing Market Trends

With 456 people, 159 houses or apartments, and a median cost of homes of $297,691, Dry Prong real estate is some of the most expensive in Louisiana, although Dry Prong home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Dry Prong, accounting for 85.16% of the village's housing units. Other types of housing that are prevalent in Dry Prong include mobile homes or trailers ( 14.84%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Dry Prong. Owner-occupied housing accounts for 74.21% of Dry Prong's homes, and 64.84% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Dry Prong built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Dry Prong built between 1940-1969 ( 29.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.54%). There's also some housing in Dry Prong built before 1939 ( 5.49%).

Vacant housing appears to be an issue in Dry Prong. Fully 12.64% of the housing stock is classified as vacant. Left unchecked, vacant Dry Prong homes and apartments can be a drag on the real estate market, holding Dry Prong 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.

Dry Prong Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Dry Prong, where house values have increased just 30.18%, which is annualized rate of 2.67%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Dry Prong appreciation rates have trailed the rest of the nation. In the last twelve months, Dry Prong's appreciation rate has been 9.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Dry Prong were at 2.58%, which equates to an annual appreciation rate of 10.73%.

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

Relative to Louisiana, our data show that Dry Prong's latest annual appreciation rate is lower than 70% of the other cities and towns in Louisiana.

Average Home Values

 

Median Home Value:
$297,691

Dry Prong, LA HOME PRICES

> $2,566,000
$1,925,001 - $2,566,000
$1,283,001 - $1,925,000
$1,026,001 - $1,283,000
$770,001 - $1,026,000
$513,001 - $770,000
$257,001 - $513,000
$128,001 - $257,000
$0 - $128,000
0.3%
0.3%
0.0%
0.0%
0.0%
0.0%
11.1%
11.1%
1.4%
1.4%
6.0%
6.0%
35.0%
35.0%
30.2%
30.2%
16.1%
16.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for LA

Value Relative To Nation

Number Of Homes And Apartments:
159

Dry Prong Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
105.76% 3.22%
6
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,163 / per month

Homeownership Rate

Owners
Renters
Vacant
74.2%
74.2%
25.8%
25.8%
12.6%
12.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.5%
11.5%
53.8%
53.8%
29.1%
29.1%
5.5%
5.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
85.2%
85.2%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
14.8%
14.8%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.1%
1.1%
1.6%
1.6%
32.4%
32.4%
46.2%
46.2%
18.7%
18.7%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Dry Prong

Zip Codes in Dry Prong, LA