Opelousas, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Opelousas Neighborhoods Since 2000




Opelousas, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Opelousas Housing Market Information

With a population of 16,591, 6,027 total housing units (homes and apartments), and a median house value of $86,615, house prices in Opelousas are solidly below the national average.

Single-family detached homes are the single most common housing type in Opelousas, accounting for 64.87% of the city's housing units. Other types of housing that are prevalent in Opelousas include mobile homes or trailers ( 15.21%), duplexes, homes converted to apartments or other small apartment buildings ( 12.18%), and a few large apartment complexes or high rise apartments ( 6.85%).

The most prevalent building size and type in Opelousas are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.33% owning and 51.67% 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. Opelousas's housing was primarily built during this period, from the '40s through the '60s. A full 46.31% of the city's housing hails from this era. Other housing ages represented in Opelousas include homes built between 1970-1999 ( 37.75%) and housing constructed between 2000 and later ( 8.78%). There's also some housing in Opelousas built before 1939 ( 7.17%).

Vacant housing appears to be an issue in Opelousas. Fully 16.94% of the housing stock is classified as vacant. Left unchecked, vacant Opelousas homes and apartments can be a drag on the real estate market, holding Opelousas 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.

Opelousas Home Appreciation Rates

Appreciation rates for homes in Opelousas have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.80%, which ranks in the top 50% nationwide. This equates to an annual average Opelousas house appreciation rate of 0.28%.

Over the last year, Opelousas appreciation rates have trailed the rest of the nation. In the last twelve months, Opelousas's appreciation rate has been -2.76%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Opelousas were at -0.90%, which equates to an annual appreciation rate of -3.57%.

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

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

Average Home Values

 

Median Home Value:
$86,615

Opelousas, LA HOME PRICES

Value Range
> $1,047,000 0.5
$785,001 - $1,047,000 0.5
$524,001 - $785,000 0.2
$419,001 - $524,000 1.3
$314,001 - $419,000 1.8
$209,001 - $314,000 8.2
$105,001 - $209,000 27.5
$52,001 - $105,000 33.9
$0 - $52,000 26.1

Low for LA
Very Low for Nation

Value Relative to Nation Value Relative to State
86.3822805578343 77.3519163763066

Number Of Homes And Apartments:
6,027

Opelousas Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
38.71% 1.92% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$805 / per month

Homeownership Rate

Homeownership
Owners 48.33
Renters 51.67
Vacant 16.94

Housing Market Details

 

Age of Homes

AGE OF Opelousas HOMES
2000 or Newer 8.8
1970 - 1999 37.7
1940 - 1969 46.3
1939 or Older 7.2

Types of Homes

TYPE OF Opelousas HOMES
Single-Family 64.9
Townhomes 0.9
Small Apt. Buildings 12.2
Apt. Complexes 6.8
Mobile Homes 15.2
Other 0.0

Home Size

SIZE OF Opelousas HOMES
No Bedroom 0.81
1 Bedroom 9.92
2 Bedrooms 34.77
3 Bedrooms 42.14
4 Bedrooms 11.19
5 or more bedrooms 1.16