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 76,070 people, 30,141 houses or apartments, and a median cost of homes of $123,197, 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 69.22% of the city's housing units. Other types of housing that are prevalent in Lake Charles include large apartment complexes or high rise apartments ( 17.21%), duplexes, homes converted to apartments or other small apartment buildings ( 10.03%), and a few row houses and other attached homes ( 1.83%).
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 49.99% owning and 50.01% 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 41.02% of the city's housing hails from this era. Other housing ages represented in Lake Charles include homes built between 1970-1999 ( 35.42%) and housing constructed between 2000 and later ( 17.37%). There's also some housing in Lake Charles built before 1939 ( 6.20%).
Vacant housing appears to be an issue in Lake Charles. Fully 12.76% 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.
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 22.95% over the last ten years, which is an average annual home appreciation rate of 2.09%, 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.
Over the last year, Lake Charles appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Charles's appreciation rate has been 2.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Charles were at 1.17%, which equates to an annual appreciation rate of 4.75%.
Relative to Louisiana, our data show that Lake Charles's latest annual appreciation rate is higher than 60% 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.
|$879,001 - $1,172,000||0.3|
|$586,001 - $879,000||1.6|
|$469,001 - $586,000||1.6|
|$352,001 - $469,000||4.9|
|$234,001 - $352,000||11.8|
|$117,001 - $234,000||33.8|
|$59,001 - $117,000||33.4|
|$0 - $59,000||12.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF Lake Charles HOMES|
|2000 or Newer||17.4|
|1970 - 1999||35.4|
|1940 - 1969||41.0|
|1939 or Older||6.2|
|TYPE OF Lake Charles HOMES|
|Small Apt. Buildings||10.0|
|SIZE OF Lake Charles HOMES|
|5 or more bedrooms||1.42|