Westwego, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Westwego Neighborhoods Since 2000




Westwego, 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

Westwego Housing Market Information

With 8,542 people, 3,584 houses or apartments, and a median cost of homes of $118,378, house prices in Westwego are solidly below the national average.

Single-family detached homes are the single most common housing type in Westwego, accounting for 65.81% of the city's housing units. Other types of housing that are prevalent in Westwego include duplexes, homes converted to apartments or other small apartment buildings ( 19.63%), large apartment complexes or high rise apartments ( 8.78%), and a few row houses and other attached homes ( 5.03%).

People in Westwego primarily live in small (one, two or no bedroom) single-family detached homes. Westwego 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. Westwego's housing was primarily built during this period, from the '40s through the '60s. A full 55.97% of the city's housing hails from this era. Other housing ages represented in Westwego include homes built between 1970-1999 ( 27.91%) and housing constructed before 1939 ( 9.53%). There's also some housing in Westwego built between 2000 and later ( 6.58%).

Vacant housing appears to be an issue in Westwego. Fully 15.43% of the housing stock is classified as vacant. Left unchecked, vacant Westwego homes and apartments can be a drag on the real estate market, holding Westwego 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.

Westwego Home Appreciation Rates

Westwego's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Westwego during the period has been just -0.92%, which is lower than 70% of US communities.

Over the last year, Westwego appreciation rates have trailed the rest of the nation. In the last twelve months, Westwego's appreciation rate has been 1.33%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westwego were at -1.40%, which equates to an annual appreciation rate of -5.49%.

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

Relative to Louisiana, our data show that Westwego's latest annual appreciation rate is higher than 50% 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 Westwego differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westwego - 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 Westwego real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$118,378

Westwego, LA HOME PRICES

Value Range
> $1,026,000 0.0
$770,001 - $1,026,000 0.0
$513,001 - $770,000 0.0
$411,001 - $513,000 0.0
$308,001 - $411,000 1.9
$205,001 - $308,000 11.0
$102,001 - $205,000 51.9
$51,001 - $102,000 28.9
$0 - $51,000 6.3

Average for LA
Low for Nation

Value Relative to Nation Value Relative to State
66.4537677253018 44.9477351916376

Number Of Homes And Apartments:
3,584

Westwego 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
46.05% 2.22% 3 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$908 / per month

Homeownership Rate

Homeownership
Owners 53.76
Renters 46.24
Vacant 15.43

Housing Market Details

 

Age of Homes

AGE OF Westwego HOMES
2000 or Newer 6.6
1970 - 1999 27.9
1940 - 1969 56.0
1939 or Older 9.5

Types of Homes

TYPE OF Westwego HOMES
Single-Family 65.8
Townhomes 5.0
Small Apt. Buildings 19.6
Apt. Complexes 8.8
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Westwego HOMES
No Bedroom 2.97
1 Bedroom 14.75
2 Bedrooms 37.64
3 Bedrooms 36.95
4 Bedrooms 6.58
5 or more bedrooms 1.11