The housing supply in Louisiana is not keeping up with the demand, which is rapidly driving up prices. And since people are taking longer to save money for a down payment and improve their credit score, now may be a good time to consider investing in real estate.
Investing in real estate can be a great option for creating an ongoing income source. In fact, the housing market has outperformed the S&P 500 over the past five years.
Real Estate investing is an attractive option to diversify, however it's not without risks. Understanding your options and knowing the details of Louisiana housing markets will help you find the right investment properties for your portfolio.
2019 Housing Market Trends in Louisiana
The median home value in Louisiana is $147,300 and the values have gone up 3.2% over the past year. The median list price for homes currently on the market is $212,000, and the median rent is $1200 a month. According to Zillow, home values will rise 2.3% within the next year. And the average annual appreciation rate for 2018 was up 0.17%.
Deciding where to invest in real estate is just as important as why, and should be approached as though you were looking for your primary residence. Do your research, check out the area, and compare the selling prices of similar homes in the neighborhood. Also, consider the local job market and school quality.
Top 5 Best Real Estate Investment Markets in Louisiana
Baton Rouge is the political hub of Louisiana, other major industries include research, medical, technology, and petrochemical. The strong job growth at companies like ExxonMobil, Louisiana State University, and Turner Industries help to support the health of the economy, and growing supply of renters. Baton Rouge is a stable market for investors. Current median home values are priced above $160,000 and median gross rent is over $780.
Looking to invest in real estate? You need a realtor who specializes in investment properties.
The first step in your real estate investing journey is to find a top local realtor with experience helping real estate investors find great deals. The right agent can help you find the best property for your goals and budget — and craft a winning offer so you can stop looking at houses on Zillow and start building wealth.
If you need help finding a realtor who specializes in investment properties, Clever Real Estate can match you with an experienced local agent so you can find the right property and get a great deal.
Requesting agent matches is free, and there's no obligation. Just fill out the form below to get agent recommendations sent straight to your inbox!
Buy your investment property with a top local realtor who specializes in helping real estate investors find great deals. Clever can connect you with investing pros at trusted brands like Keller Williams and RE/MAX.
Enter your zip code to get personalized agent matches sent straight to your inbox. Compare your options until you find the perfect fit, or walk away with no obligation. Try Clever's free service today!
New Orleans is home to some of the most expensive real estate in Louisiana. The median home price sold in the local investment market is $232,900. The average home value is $183,000 and is expected to grow 2.6% in the next year. Short-term rentals make up about one-tenth of the market, and are in some of the most popular New Orleans' neighborhoods. The median rent price is $1500, and in recent history, the market has proven to be lucrative for savvy investors.
Hackberry is an attractive market for investors because the median home price is listed at $290,000 and is trending up 97.4% year-over-year. Popular cities around Hackberry include Sulphur, Lake Charles, and Prien. Cameron is the most affordable city with a median listing price of $129,300. There are 12 schools in Hackberry. Johnson Bayou High School received a 5 star parental rating.
Shreveport-Bossier City Metro's home median prices are currently $116,500 and the values have increased 0.7% over the past year. The average price of currently listed homes is $189,900 and the typical cost to rent is about $850. Shreveport's job outlook is favorable, with everything from a thriving trade and health care sector, to strong education options. The annual Shreveport average salary is $39,4000. And the US Air Force is Shreveport's largest employer.
Lafayette real estate has come a long way. The average home value is $157,200. The median price of currently listed homes is $211,750 and the typical tenant will pay $1,125 a month to rent. It's currently a buyer's market according to Zillow. Economists predict that 1400 jobs will be added to the area in 2019, and over 4,500 in 2020. The biggest contributing factor is the increase in oil prices, now at $70 a barrel, the prices are expected to reach $80 a barrel in 2020.
Ready to Explore Real Investing In Louisiana? Here's What to do Next
The house flipping reality TV shows make investing in real estate look easy, however, to be successful you need a sound strategy. Clever connects you with a local real estate agent who will answer all of your questions and guide you from start to finish and beyond.
Whether you're interested in a single unit, or multiple homes and locations, our Partner-Agents have the experience to help increase your return on investment, while assisting you with lending options, and recommending reputable local contractors.
Contact us today and we'll point you in the right direction.
Finding a great local realtor is the first step in making your home buying dreams a reality. Our free service matches you with top agents from trusted brands like Keller Williams and RE/MAX.
Enter your zip code to request hand-picked agent matches in minutes. Compare your options until you find the perfect fit, or walk away with no obligation. Try Clever's free service today!
You May Also Like