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 4,664 people, 2,061 houses or apartments, and a median cost of homes of $220,016, house prices in Westlake are solidly below the national average.
Single-family detached homes are the single most common housing type in Westlake, accounting for 81.60% of the city's housing units. Other types of housing that are prevalent in Westlake include mobile homes or trailers ( 9.76%), large apartment complexes or high rise apartments ( 6.48%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.72%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westlake. Owner-occupied housing accounts for 82.10% of Westlake's homes, and 74.72% have either three or four bedrooms, which is average sized relative to America.
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. Westlake's housing was primarily built during this period, from the '40s through the '60s. A full 41.84% of the city's housing hails from this era. Other housing ages represented in Westlake include homes built between 1970-1999 ( 33.76%) and housing constructed between 2000 and later ( 24.40%).
Vacant housing appears to be an issue in Westlake. Fully 17.56% of the housing stock is classified as vacant. Left unchecked, vacant Westlake homes and apartments can be a drag on the real estate market, holding Westlake 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.
Westlake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Westlake during the period has been just 5.34%, which is lower than 70% of US communities.
Appreciation rates are so strong in Westlake that despite a nationwide downturn in the housing market, Westlake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westlake appreciation rates continue to be some of the highest in America, at 14.21%, which is higher than appreciation rates in 96.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westlake. Westlake appreciation rates in the latest quarter were at -1.49%, which equates to an annual appreciation rate of -5.82%.
Notably, Westlake's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Louisiana, our data show that Westlake's latest annual appreciation rate is higher than 90% of the other cities and towns in Louisiana.
$220,016
for Louisiana
for nation
2,061
$1,209 / per month