Eunice, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Eunice, LA Real Estate Data


Eunice Housing Market Information

With a population of 10,310, 3,965 total housing units (homes and apartments), and a median house value of $98,391, house prices in Eunice are solidly below the national average.

Single-family detached homes are the single most common housing type in Eunice, accounting for 72.08% of the city's housing units. Other types of housing that are prevalent in Eunice include mobile homes or trailers ( 10.48%), duplexes, homes converted to apartments or other small apartment buildings ( 8.96%), and a few large apartment complexes or high rise apartments ( 7.10%).

The most prevalent building size and type in Eunice are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.57% owning and 48.43% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Eunice's housing was primarily built during this period, from the '40s through the '60s. A full 47.22% of the city's housing hails from this era. Other housing ages represented in Eunice include homes built between 1970-1999 ( 40.91%) and housing constructed between 2000 and later ( 6.72%). There's also some housing in Eunice built before 1939 ( 5.15%).

Vacant housing appears to be an issue in Eunice. Fully 11.22% of the housing stock is classified as vacant. Left unchecked, vacant Eunice homes and apartments can be a drag on the real estate market, holding Eunice 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.

Eunice Home Appreciation Rates

In the last 10 years, Eunice has experienced some of the highest home appreciation rates of any community in the nation. Eunice real estate appreciated 20.14% over the last ten years, which is an average annual home appreciation rate of 1.85%, putting Eunice in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Eunice definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Eunice appreciation rates have trailed the rest of the nation. In the last twelve months, Eunice's appreciation rate has been 3.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Eunice were at 0.58%, which equates to an annual appreciation rate of 2.34%.

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

Relative to Louisiana, our data show that Eunice's latest annual appreciation rate is lower than 50% of the other cities and towns in Louisiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Eunice differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Eunice - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Eunice real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$98,391

Eunice, LA HOME PRICES

Value Range
> $1,102,000 0.3
$827,001 - $1,102,000 0.0
$551,001 - $827,000 0.4
$441,001 - $551,000 0.7
$331,001 - $441,000 0.8
$221,001 - $331,000 4.1
$110,001 - $221,000 32.9
$55,001 - $110,000 36.8
$0 - $55,000 24.0

Low for LA
Low for Nation

Value Relative to Nation Value Relative to State
79.8618024243134 61.4583333333333

Number Of Homes And Apartments:
3,965

Rent & Ownership

 

Average Market Rent:
$712 / per month

Homeownership Rate

Homeownership
Owners 51.57
Renters 48.43
Vacant 11.22

Housing Market Details

 

Age of Homes

AGE OF Eunice HOMES
2000 or Newer 6.7
1970 - 1999 40.9
1940 - 1969 47.2
1939 or Older 5.2

Types of Homes

TYPE OF Eunice HOMES
Single-Family 72.1
Townhomes 1.4
Small Apt. Buildings 9.0
Apt. Complexes 7.1
Mobile Homes 10.5
Other 0.0

Home Size

SIZE OF Eunice HOMES
No Bedroom 0.63
1 Bedroom 7.99
2 Bedrooms 33.83
3 Bedrooms 48.16
4 Bedrooms 8.06
5 or more bedrooms 1.32

Eunice Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
56.44% 2.67% 4 7
* 10 is highest