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 | Concordia Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $80,706 | $166,764 | $242,182 |
| Price Trend (Annual %) | 2.6% | 4.5% | 8.2% |
| Median Gross Rent | $774 | $1,038 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Concordia Parish is about 52% lower than in Louisiana. Rent is about 25% 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 Concordia Parish, up about 2.6% and 5.8% a year respectively. Rent is changing faster.
Median rent in Concordia Parish rose about 56.8% between 2015 and 2023, from $493 to $774. Over the same span, rent in Louisiana rose about 31.9%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Concordia Parish.
Buying the median-priced home in Concordia Parish costs roughly 8.7 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 Concordia Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Concordia Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $80,706 | $166,764 | $242,182 |
| Median Household Income | $38,636 | $60,029 | $78,145 |
| Price-to-Income Ratio | 2.1 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Concordia Parish rose about 46.0%, while median household income rose about 45.2% between 2009 and 2023 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Concordia Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.3% | 57.3% | 58.2% |
| Rental Rate | 21.6% | 27.8% | 31.3% |
| Vacancy Rate | 27.2% | 14.8% | 10.6% |
| Median Tenure (years) | 21.0 | 16.0 | 15.0 |
| Median Year Moved In | 2005 | 2010 | 2011 |
Concordia Parish has a homeownership rate of 51.3%, lower than the Louisiana average of 57.3%. Its housing vacancy rate is 27.2%, compared with 14.8% in Louisiana.
Housing Stock
| Metric | Concordia Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.52 people | 2.54 people |
| Median Structure Built Year | 1976 | 1982 | 1978 |
| Median Number of Rooms | 5.4 | 5.5 | 5.5 |
The typical housing unit in Concordia Parish was built around 1976. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Concordia Parish, Louisiana.
What is the median home price in Concordia Parish, Louisiana?
The median home price in Concordia Parish, Louisiana is $80,706, lower than the Louisiana average of $166,764.
What is the average home price in Concordia 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 Concordia Parish, Louisiana?
The median gross rent in Concordia Parish, Louisiana is $774 per month, lower than the Louisiana average of $1,038.
What was the median gross rent in Concordia Parish in 2020?
In 2020, the median gross rent in Concordia Parish, Louisiana was $667 per month.
What is the price-to-rent ratio in Concordia Parish, Louisiana?
The price-to-rent ratio in Concordia Parish, Louisiana is about 8.7, meaning it would take roughly 8.7 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 Concordia Parish.
Are home prices or rent rising faster in Concordia Parish, Louisiana?
Both home prices and rent are rising in Concordia Parish, up about 2.6% and 5.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Concordia Parish, Louisiana?
51.3% of households in Concordia Parish, Louisiana own their home, lower than the Louisiana average of 57.3%.
What is the vacancy rate in Concordia Parish, Louisiana?
The housing vacancy rate in Concordia Parish, Louisiana is 27.2%, higher than the Louisiana average of 14.8%.