West Monroe, LA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

West Monroe, LA Housing Market Trends

With 12,227 people, 5,616 houses or apartments, and a median cost of homes of $135,162, house prices in West Monroe are solidly below the national average.

Single-family detached homes are the single most common housing type in West Monroe, accounting for 60.68% of the city's housing units. Other types of housing that are prevalent in West Monroe include large apartment complexes or high rise apartments ( 19.11%), duplexes, homes converted to apartments or other small apartment buildings ( 14.57%), and a few mobile homes or trailers ( 3.66%).

People in West Monroe primarily live in small (one, two or no bedroom) single-family detached homes. West Monroe has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in West Monroe built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in West Monroe built between 1940-1969 ( 39.07%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.47%). There's also some housing in West Monroe built before 1939 ( 4.24%).

Vacant housing appears to be an issue in West Monroe. Fully 17.01% of the housing stock is classified as vacant. Left unchecked, vacant West Monroe homes and apartments can be a drag on the real estate market, holding West Monroe 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.

West Monroe Home Appreciation Rates

West Monroe's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in West Monroe during the period has been just 2.48%, which is lower than 70% of US communities.

Over the last year, West Monroe appreciation rates have trailed the rest of the nation. In the last twelve months, West Monroe's appreciation rate has been 4.24%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in West Monroe were at 1.44%, which equates to an annual appreciation rate of 5.89%.

Notably, West Monroe's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Louisiana, our data show that West Monroe's latest annual appreciation rate is higher than 60% of the other cities and towns in Louisiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within West Monroe differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Monroe - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best West Monroe real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$135,162

West Monroe, LA HOME PRICES

> $1,102,000
0.5%
0.5%
$826,001 - $1,102,000
0.6%
0.6%
$551,001 - $826,000
0.2%
0.2%
$441,001 - $551,000
1.2%
1.2%
$331,001 - $441,000
2.5%
2.5%
$220,001 - $331,000
11.1%
11.1%
$110,001 - $220,000
38.8%
38.8%
$55,001 - $110,000
29.0%
29.0%
$0 - $55,000
16.0%
16.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for LA

Value Relative To Nation

Number Of Homes And Apartments:
5,616

West Monroe Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
65.82% 2.38%
4
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,019 / per month

Homeownership Rate

Owners
38.5%
38.5%
Renters
61.5%
61.5%
Vacant
17.0%
17.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
8.5%
8.5%
1970 - 1999
48.2%
48.2%
1940 - 1969
39.1%
39.1%
1939 or Older
4.2%
4.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
60.7%
60.7%
Townhomes
1.6%
1.6%
Small Apt. Buildings
14.6%
14.6%
Apt. Complexes
19.1%
19.1%
Mobile Homes
3.7%
3.7%
Other
0.4%
0.4%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.6%
3.6%
1 Bedroom
17.8%
17.8%
2 Bedrooms
33.4%
33.4%
3 Bedrooms
38.0%
38.0%
4 Bedrooms
6.5%
6.5%
5 or more bedrooms
0.6%
0.6%
0.0% 100.0%
% OF HOMES