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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 2,632, 973 total housing units (homes and apartments), and a median house value of $78,510, house prices in Homer are some of the most affordable in Louisiana as well as the nation.
Single-family detached homes are the single most common housing type in Homer, accounting for 74.37% of the town's housing units. Other types of housing that are prevalent in Homer include duplexes, homes converted to apartments or other small apartment buildings ( 12.74%), large apartment complexes or high rise apartments ( 7.44%), and a few mobile homes or trailers ( 5.46%).
The most prevalent building size and type in Homer are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 42.65% owning and 57.35% 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. Homer's housing was primarily built during this period, from the '40s through the '60s. A full 49.29% of the town's housing hails from this era. Other housing ages represented in Homer include homes built between 1970-1999 ( 44.70%) and housing constructed before 1939 ( 4.91%). There's also some housing in Homer built between 2000 and later ( 1.11%).
Vacant housing appears to be an issue in Homer. Fully 23.02% of the housing stock is classified as vacant. Left unchecked, vacant Homer homes and apartments can be a drag on the real estate market, holding Homer 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Homer, where house values have increased just 4.92%, which is annualized rate of 0.48%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Homer appreciation rates have trailed the rest of the nation. In the last twelve months, Homer's appreciation rate has been 1.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Homer were at -3.70%, which equates to an annual appreciation rate of -14.01%.
Notably, Homer's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Louisiana, our data show that Homer's latest annual appreciation rate is lower than 60% of the other cities and towns in Louisiana.
$78,510
for Louisiana
for nation
973
$1,013 / per month