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 3,715, 1,689 total housing units (homes and apartments), and a median house value of $112,081, house prices in Lake Providence are solidly below the national average.
Single-family detached homes are the single most common housing type in Lake Providence, accounting for 71.30% of the town's housing units. Other types of housing that are prevalent in Lake Providence include mobile homes or trailers ( 14.04%), duplexes, homes converted to apartments or other small apartment buildings ( 11.89%), and a few large apartment complexes or high rise apartments ( 2.77%).
The most prevalent building size and type in Lake Providence are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 39.99% owning and 60.01% renting.
There is a lot of housing in Lake Providence 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 Lake Providence built between 1940-1969 ( 41.62%). A lesser amount of the housing stock also hails from before 1939 ( 8.66%). There's also some housing in Lake Providence built between 2000 and later ( 6.77%).
Vacant housing appears to be an issue in Lake Providence. Fully 13.43% of the housing stock is classified as vacant. Left unchecked, vacant Lake Providence homes and apartments can be a drag on the real estate market, holding Lake Providence 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 Providence has experienced some of the highest home appreciation rates of any community in the nation. Lake Providence real estate appreciated 34.41% over the last ten years, which is an average annual home appreciation rate of 3.00%, putting Lake Providence in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lake Providence 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 Providence appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Providence's appreciation rate has been 1.10%, 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 Providence were at -0.90%, which equates to an annual appreciation rate of -3.57%.
Notably, Lake Providence's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Louisiana, our data show that Lake Providence's latest annual appreciation rate is lower than 50% of the other cities and towns in Louisiana.
|$839,001 - $1,118,000||0.0|
|$559,001 - $839,000||1.0|
|$447,001 - $559,000||1.7|
|$335,001 - $447,000||0.9|
|$224,001 - $335,000||7.5|
|$112,001 - $224,000||15.6|
|$56,001 - $112,000||16.7|
|$0 - $56,000||56.7|
|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 Lake Providence HOMES|
|2000 or Newer||6.8|
|1970 - 1999||43.0|
|1940 - 1969||41.6|
|1939 or Older||8.7|
|TYPE OF Lake Providence HOMES|
|Small Apt. Buildings||11.9|
|SIZE OF Lake Providence HOMES|
|5 or more bedrooms||2.05|