Kaplan, LA 70548 housing market

What this means

• Valuation. Prices are 19% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are up 6.4% over the past year (U.S.: +1.2%), but still 13% below their 2022-23 peak.
• Supply. Listings are 24% below the 2017-19 norm and falling (−33% vs. a year ago), still somewhat tight.
• Negotiating. Buyer leverage is high (80/100; U.S.: 54): homes sell for about 7.4% below their final list price; 17% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 23% of the median household income (U.S.: 35%); it takes about $41k a year to keep the payment at 30% of gross pay. That includes about $3,153 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $353 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from hurricanes. Check insurance costs before buying.
• Outlook. Leaning up: likely −5% to +11% over the next 12 months (75% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −5.0% to +11.3% (80% range; middle estimate +4.2%), chance of a rise 75%, of a 5%+ drop 10%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

Other ZIP codes in Vermilion Parish, LA