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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 3,005, 1,187 total housing units (homes and apartments), and a median house value of $63,046, house prices in Homer are some of the most affordable in Louisiana as well as the nation.
Single-family detached homes are the single most common housing type in Homer, accounting for 78.16% of the town's housing units. Other types of housing that are prevalent in Homer include mobile homes or trailers ( 10.60%), duplexes, homes converted to apartments or other small apartment buildings ( 7.30%), and a few large apartment complexes or high rise apartments ( 2.86%).
The most prevalent building size and type in Homer are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 50.46% owning and 49.54% 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. Homer's housing was primarily built during this period, from the '40s through the '60s. A full 49.90% of the town's housing hails from this era. Other housing ages represented in Homer include homes built between 1970-1999 ( 39.49%) and housing constructed before 1939 ( 8.44%). There's also some housing in Homer built between 2000 and later ( 2.16%).
Vacant housing appears to be an issue in Homer. Fully 24.63% of the housing stock is classified as vacant. Left unchecked, vacant Homer homes and apartments can be a drag on the real estate market, holding Homer 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.
Appreciation rates for homes in Homer have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.85%, which ranks in the top 40% nationwide. This equates to an annual average Homer house appreciation rate of 0.76%.
Over the last year, Homer appreciation rates have trailed the rest of the nation. In the last twelve months, Homer's appreciation rate has been -0.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Homer were at -0.90%, which equates to an annual appreciation rate of -3.57%.
Notably, Homer's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Louisiana, our data show that Homer's latest annual appreciation rate is lower than 80% of the other cities and towns in Louisiana.
|$784,001 - $1,045,000||0.0|
|$523,001 - $784,000||2.7|
|$418,001 - $523,000||0.0|
|$314,001 - $418,000||0.0|
|$209,001 - $314,000||3.7|
|$104,001 - $209,000||13.2|
|$53,001 - $104,000||30.5|
|$0 - $53,000||49.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Homer HOMES|
|2000 or Newer||2.2|
|1970 - 1999||39.5|
|1940 - 1969||49.9|
|1939 or Older||8.4|
|TYPE OF Homer HOMES|
|Small Apt. Buildings||7.3|
|SIZE OF Homer HOMES|
|5 or more bedrooms||0.00|