Lake Charles, 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 Q3 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 about Scout's Real Estate Data

Lake Charles Housing Market Information

With 78,396 people, 32,012 houses or apartments, and a median cost of homes of $145,476, house prices in Lake Charles are solidly below the national average.

Single-family detached homes are the single most common housing type in Lake Charles, accounting for 66.64% of the city's housing units. Other types of housing that are prevalent in Lake Charles include large apartment complexes or high rise apartments ( 19.34%), duplexes, homes converted to apartments or other small apartment buildings ( 9.92%), and a few mobile homes or trailers ( 2.09%).

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 48.86% owning and 51.14% 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 39.94% of the city's housing hails from this era. Other housing ages represented in Lake Charles include homes built between 1970-1999 ( 33.53%) and housing constructed between 2000 and later ( 20.77%). There's also some housing in Lake Charles built before 1939 ( 5.76%).

Vacant housing appears to be an issue in Lake Charles. Fully 12.88% 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

Appreciation rates for homes in Lake Charles have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 34.84%, which ranks in the top 40% nationwide. This equates to an annual average Lake Charles house appreciation rate of 3.03%.

Appreciation rates are so strong in Lake Charles that despite a nationwide downturn in the housing market, Lake Charles real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lake Charles appreciation rates continue to be some of the highest in America, at 7.20%, which is higher than appreciation rates in 95.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lake Charles. Lake Charles appreciation rates in the latest quarter were at 1.71%, which equates to an annual appreciation rate of 7.02%.

Relative to Louisiana, our data show that Lake Charles's latest annual appreciation rate is higher than 90% 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

 
info

Median Home Value:
$145,476

Lake Charles, LA HOME PRICES

> $1,147,000
0.5%
0.5%
$861,001 - $1,147,000
0.6%
0.6%
$574,001 - $861,000
1.8%
1.8%
$459,001 - $574,000
2.1%
2.1%
$344,001 - $459,000
6.1%
6.1%
$229,001 - $344,000
14.4%
14.4%
$115,001 - $229,000
38.3%
38.3%
$57,001 - $115,000
26.7%
26.7%
$0 - $57,000
9.5%
9.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

High for LA

Value Relative To Nation

Number Of Homes And Apartments:
32,012

Lake Charles Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
89.37% 3.12%
8
7
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,039 / per month

Homeownership Rate

Owners
48.9%
48.9%
Renters
51.1%
51.1%
Vacant
12.9%
12.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
20.8%
20.8%
1970 - 1999
33.5%
33.5%
1940 - 1969
39.9%
39.9%
1939 or Older
5.8%
5.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.6%
66.6%
Townhomes
2.0%
2.0%
Small Apt. Buildings
9.9%
9.9%
Apt. Complexes
19.3%
19.3%
Mobile Homes
2.1%
2.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.2%
1.2%
1 Bedroom
11.3%
11.3%
2 Bedrooms
31.5%
31.5%
3 Bedrooms
40.7%
40.7%
4 Bedrooms
13.4%
13.4%
5 or more bedrooms
1.9%
1.9%
0.0% 100.0%
% OF HOMES