West Monroe, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating West Monroe Neighborhoods Since 2000




West Monroe, 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

West Monroe Housing Market Information

With 12,966 people, 5,489 houses or apartments, and a median cost of homes of $145,828, West Monroe real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in West Monroe, accounting for 67.94% of the city's housing units. Other types of housing that are prevalent in West Monroe include large apartment complexes or high rise apartments ( 13.23%), duplexes, homes converted to apartments or other small apartment buildings ( 12.74%), and a few mobile homes or trailers ( 3.56%).

People in West Monroe primarily live in small (one, two or no bedroom) single-family detached homes. West Monroe has a mixture of owner-occupied and renter-occupied housing.

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. West Monroe's housing was primarily built during this period, from the '40s through the '60s. A full 50.82% of the city's housing hails from this era. Other housing ages represented in West Monroe include homes built between 1970-1999 ( 38.91%) and housing constructed between 2000 and later ( 6.95%). There's also some housing in West Monroe built before 1939 ( 3.31%).

Vacant housing appears to be an issue in West Monroe. Fully 13.87% of the housing stock is classified as vacant. Left unchecked, vacant West Monroe homes and apartments can be a drag on the real estate market, holding West Monroe 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.

West Monroe Home Appreciation Rates

In the last 10 years, West Monroe has experienced some of the highest home appreciation rates of any community in the nation. West Monroe real estate appreciated 28.09% over the last ten years, which is an average annual home appreciation rate of 2.51%, putting West Monroe in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, West Monroe definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, West Monroe's appreciation rate, at 4.80%, has been at or slightly above the national average. In the latest quarter, West Monroe's appreciation rate has been 1.81%, which annualizes to a rate of 7.43%.

Importantly, this makes West Monroe one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$145,828

West Monroe, LA HOME PRICES

Value Range
> $1,125,000 0.0
$844,001 - $1,125,000 0.0
$562,001 - $844,000 0.3
$450,001 - $562,000 0.7
$337,001 - $450,000 2.5
$225,001 - $337,000 9.8
$112,001 - $225,000 33.3
$56,001 - $112,000 38.9
$0 - $56,000 14.5

High for LA
Average for Nation

Value Relative to Nation Value Relative to State
51.7637407711239 22.6480836236934

Number Of Homes And Apartments:
5,489

West Monroe 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
55.67% 2.60% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,083 / per month

Homeownership Rate

Homeownership
Owners 42.03
Renters 57.97
Vacant 13.87

Housing Market Details

 

Age of Homes

AGE OF West Monroe HOMES
2000 or Newer 7.0
1970 - 1999 38.9
1940 - 1969 50.8
1939 or Older 3.3

Types of Homes

TYPE OF West Monroe HOMES
Single-Family 67.9
Townhomes 2.5
Small Apt. Buildings 12.7
Apt. Complexes 13.2
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF West Monroe HOMES
No Bedroom 0.49
1 Bedroom 14.17
2 Bedrooms 36.06
3 Bedrooms 42.29
4 Bedrooms 5.71
5 or more bedrooms 1.29