Shreveport, Louisiana has a median house value of $95,767. Over the last year, house value has decreased 0.9 percent.
Per square foot, the list cost median is $93 in Shreveport. The Metro area of Shreveport is higher at $103 per square foot average.
$159,000 is the median cost of homes in Shreveport currently listed. $725 is the rent median cost of homes in Shreveport. The Metro area of Shreveport’s rent median cost of homes is higher at $875.
When it comes to foreclosure of homes, the first step is what is called mortgage delinquency. This occurs when an owner of a house misses making a payment on their mortgage.
2.9 percent is the percentage of mortgage delinquencies in Shreveport. This is quite a bit above the United States value which is 1.6 percent.
Shreveport has a median annual household income of $38,583.
One problem in Shreveport is the lack of affordable housing. A major cause of this is that the cost to build affordable housing makes it difficult for developers to make a sufficient amount of money. Some factors at the heart of this are regulations, high cost of land, and labor costs. Thus, builders put their attention on constructing middle to higher-end homes because they are more profitable.
But, there is a lack of inventory, and an increased number of millennials coming into the marketplace. This should increase entry level home pricing and cause them to be more tempting for developers to build. It looks like the number of affordable homes will still be in short supply, but the number is expected go up, and prices are expected to be more stable.
It is also expected that housing starts will increase by 3 percent from last year, and sales of existing houses to go up 2.5 percent.