Harvey LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Harvey, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Harvey Housing Market Information

With a population of 20,523, 8,198 total housing units (homes and apartments), and a median house value of $136,463, house prices in Harvey are solidly below the national average.

Single-family detached homes are the single most common housing type in Harvey, accounting for 58.12% of the town's housing units. Other types of housing that are prevalent in Harvey include large apartment complexes or high rise apartments ( 21.75%), duplexes, homes converted to apartments or other small apartment buildings ( 14.43%), and a few row houses and other attached homes ( 5.00%).

The most prevalent building size and type in Harvey are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 49.11% owning and 50.89% renting.

There is a lot of housing in Harvey 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 Harvey built between 1940-1969 ( 33.72%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.99%). There's also some housing in Harvey built before 1939 ( 1.67%).

Vacant housing appears to be an issue in Harvey. Fully 10.33% of the housing stock is classified as vacant. Left unchecked, vacant Harvey homes and apartments can be a drag on the real estate market, holding Harvey 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.

Harvey Home Appreciation Rates

Harvey's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Harvey during the period has been just 1.69%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Harvey's appreciation rate, at 4.87%, has been at or slightly above the national average. In the latest quarter, Harvey's appreciation rate has been 1.69%, which annualizes to a rate of 6.94%.

Importantly, this makes Harvey one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Louisiana, our data show that Harvey's latest annual appreciation rate is higher than 80% 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 town. Individual neighborhoods within Harvey differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Harvey - 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 Harvey real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$136,463

Harvey, LA HOME PRICES

Value Range
> $1,194,000 0.1
$895,001 - $1,194,000 0.0
$597,001 - $895,000 1.0
$478,001 - $597,000 1.2
$359,001 - $478,000 2.5
$239,001 - $359,000 8.7
$120,001 - $239,000 58.9
$60,001 - $120,000 23.7
$0 - $60,000 4.0

Average for LA
Low for Nation

Value Relative to Nation Value Relative to State
67.5386861313869 43.2525951557093

Number Of Homes And Apartments:
8,198

Harvey Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
54.53% 2.15%
2
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,265 / per month

Homeownership Rate

Homeownership
Owners 49.11
Renters 50.89
Vacant 10.33

Housing Market Details

 

Age of Homes

AGE OF Harvey HOMES
2000 or Newer 8.0
1970 - 1999 56.6
1940 - 1969 33.7
1939 or Older 1.7

Types of Homes

TYPE OF Harvey HOMES
Single-Family 58.1
Townhomes 5.0
Small Apt. Buildings 14.4
Apt. Complexes 21.7
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Harvey HOMES
No Bedroom 2.00
1 Bedroom 12.98
2 Bedrooms 31.00
3 Bedrooms 37.40
4 Bedrooms 16.17
5 or more bedrooms 0.45