Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Caddo Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $126,762 | $166,764 | $242,182 |
| Price Trend (Annual %) | 1.8% | 4.5% | 8.2% |
| Median Gross Rent | $962 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Caddo Parish is about 24% lower than in Louisiana. Rent is about 7% lower than the Louisiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Caddo Parish, up about 1.8% and 3.7% a year respectively. Rent is changing faster.
Median rent in Caddo Parish rose about 29.8% between 2015 and 2023, from $741 to $962. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Caddo Parish.
Buying the median-priced home in Caddo Parish costs roughly 11.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Caddo Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Caddo Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $126,762 | $166,764 | $242,182 |
| Median Household Income | $49,975 | $60,029 | $78,145 |
| Price-to-Income Ratio | 2.5 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Caddo Parish rose about 8.3%, while median household income rose about 37.8% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Caddo Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.2% | 57.3% | 58.2% |
| Rental Rate | 33.1% | 27.8% | 31.3% |
| Vacancy Rate | 15.7% | 14.8% | 10.6% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Caddo Parish has a homeownership rate of 51.2%, lower than the Louisiana average of 57.3%. Its housing vacancy rate is 15.7%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Caddo Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.38 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1979 | 1982 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Caddo Parish was built around 1979. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Caddo Parish, Louisiana.
What is the median home price in Caddo Parish, Louisiana?
The median home price in Caddo Parish, Louisiana is $126,762, lower than the Louisiana average of $166,764.
What is the average home price in Caddo Parish, Louisiana?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Caddo Parish, Louisiana?
The median gross rent in Caddo Parish, Louisiana is $962 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Caddo Parish in 2020?
In 2020, the median gross rent in Caddo Parish, Louisiana was $806 per month.
What is the price-to-rent ratio in Caddo Parish, Louisiana?
The price-to-rent ratio in Caddo Parish, Louisiana is about 11.0, meaning it would take roughly 11.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Caddo Parish.
Are home prices or rent rising faster in Caddo Parish, Louisiana?
Both home prices and rent are rising in Caddo Parish, up about 1.8% and 3.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Caddo Parish, Louisiana?
51.2% of households in Caddo Parish, Louisiana own their home, lower than the Louisiana average of 57.3%.
What is the vacancy rate in Caddo Parish, Louisiana?
The housing vacancy rate in Caddo Parish, Louisiana is 15.7%, higher than the Louisiana average of 14.8%.