Metairie, LA Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Metairie, LA Housing Market Trends

With 139,524 people, 59,854 houses or apartments, and a median cost of homes of $256,130, Metairie real estate is some of the most expensive in Louisiana, although Metairie home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Metairie, accounting for 61.60% of the town's housing units. Other types of housing that are prevalent in Metairie include large apartment complexes or high rise apartments ( 23.16%), duplexes, homes converted to apartments or other small apartment buildings ( 10.59%), and a few row houses and other attached homes ( 4.00%).

The most prevalent building size and type in Metairie are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.82% owning and 39.18% 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. Metairie's housing was primarily built during this period, from the '40s through the '60s. A full 46.36% of the town's housing hails from this era. Other housing ages represented in Metairie include homes built between 1970-1999 ( 44.95%) and housing constructed between 2000 and later ( 5.82%). There's also some housing in Metairie built before 1939 ( 2.88%).

Metairie Home Appreciation Rates

Appreciation rates for homes in Metairie have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 37.16%, which ranks in the top 40% nationwide. This equates to an annual average Metairie house appreciation rate of 3.21%.

NeighborhoodScout's data show that during the latest twelve months, Metairie's appreciation rate, at 5.38%, has been at or slightly above the national average. In the latest quarter, Metairie's appreciation rate has been 1.55%, which annualizes to a rate of 6.33%.

Notably, Metairie's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Louisiana, our data show that Metairie'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 town. Individual neighborhoods within Metairie differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Metairie - 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 Metairie real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$256,130

Metairie, LA HOME PRICES

> $1,163,000
1.5%
1.5%
$873,001 - $1,163,000
1.6%
1.6%
$582,001 - $873,000
4.3%
4.3%
$465,001 - $582,000
5.7%
5.7%
$349,001 - $465,000
12.6%
12.6%
$233,001 - $349,000
34.3%
34.3%
$116,001 - $233,000
29.0%
29.0%
$58,001 - $116,000
8.7%
8.7%
$0 - $58,000
2.3%
2.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for LA

Value Relative To Nation

Number Of Homes And Apartments:
59,854

Metairie Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
75.60% 2.72%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,351 / per month

Homeownership Rate

Owners
60.8%
60.8%
Renters
39.2%
39.2%
Vacant
7.5%
7.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.8%
5.8%
1970 - 1999
44.9%
44.9%
1940 - 1969
46.4%
46.4%
1939 or Older
2.9%
2.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
61.6%
61.6%
Townhomes
4.0%
4.0%
Small Apt. Buildings
10.6%
10.6%
Apt. Complexes
23.2%
23.2%
Mobile Homes
0.6%
0.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.8%
2.8%
1 Bedroom
13.8%
13.8%
2 Bedrooms
24.1%
24.1%
3 Bedrooms
40.2%
40.2%
4 Bedrooms
15.9%
15.9%
5 or more bedrooms
3.2%
3.2%
0.0% 100.0%
% OF HOMES