Lake Charles, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Charles, LA Real Estate Data


Lake Charles Housing Market Information

With 76,070 people, 29,705 houses or apartments, and a median cost of homes of $143,932, Lake Charles real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Lake Charles, accounting for 69.60% of the city's housing units. Other types of housing that are prevalent in Lake Charles include large apartment complexes or high rise apartments ( 16.66%), duplexes, homes converted to apartments or other small apartment buildings ( 10.13%), and a few mobile homes or trailers ( 1.85%).

The most prevalent building size and type in Lake Charles are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.30% owning and 48.70% 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. Lake Charles's housing was primarily built during this period, from the '40s through the '60s. A full 40.89% of the city's housing hails from this era. Other housing ages represented in Lake Charles include homes built between 1970-1999 ( 34.43%) and housing constructed between 2000 and later ( 17.72%). There's also some housing in Lake Charles built before 1939 ( 6.96%).

Vacant housing appears to be an issue in Lake Charles. Fully 12.68% of the housing stock is classified as vacant. Left unchecked, vacant Lake Charles homes and apartments can be a drag on the real estate market, holding Lake Charles 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.

Lake Charles Home Appreciation Rates

In the last 10 years, Lake Charles has experienced some of the highest home appreciation rates of any community in the nation. Lake Charles real estate appreciated 25.79% over the last ten years, which is an average annual home appreciation rate of 2.32%, putting Lake Charles in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lake Charles definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Lake Charles's appreciation rate, at 5.04%, has been at or slightly above the national average. In the latest quarter, Lake Charles's appreciation rate has been 3.02%, which annualizes to a rate of 12.64%.

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

Relative to Louisiana, our data show that Lake Charles's latest annual appreciation rate is higher than 70% 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 Lake Charles differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lake Charles - 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 Lake Charles real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$143,932

Lake Charles, LA HOME PRICES

Value Range
> $1,156,000 0.3
$867,001 - $1,156,000 0.3
$578,001 - $867,000 1.6
$462,001 - $578,000 1.5
$347,001 - $462,000 4.3
$231,001 - $347,000 11.3
$115,001 - $231,000 33.9
$58,001 - $115,000 34.8
$0 - $58,000 12.1

High for LA
Average for Nation

Value Relative to Nation Value Relative to State
53.6423259354688 26.5625

Number Of Homes And Apartments:
29,705

Rent & Ownership

 

Average Market Rent:
$988 / per month

Homeownership Rate

Homeownership
Owners 51.30
Renters 48.70
Vacant 12.68

Housing Market Details

 

Age of Homes

AGE OF Lake Charles HOMES
2000 or Newer 17.7
1970 - 1999 34.4
1940 - 1969 40.9
1939 or Older 7.0

Types of Homes

TYPE OF Lake Charles HOMES
Single-Family 69.6
Townhomes 1.8
Small Apt. Buildings 10.1
Apt. Complexes 16.7
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Lake Charles HOMES
No Bedroom 1.63
1 Bedroom 10.80
2 Bedrooms 29.13
3 Bedrooms 45.48
4 Bedrooms 11.33
5 or more bedrooms 1.61

Lake Charles 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
65.11% 2.99% 6 8
* 10 is highest