New Iberia, LA 70560 housing market

What this means

• Valuation. Prices are roughly in line with local incomes (−2% vs. this area's pre-2020 price-to-income norm).
• Prices. Home values are down 1.9% over the past year (U.S.: +1.2%), 20% below their 2022-23 peak.
• Supply. Listings are 12% below the 2017-19 norm and rising (+17% vs. a year ago), still somewhat tight.
• Negotiating. Buyer leverage is high (86/100; U.S.: 54): homes sell for about 2.4% below their final list price; 33% 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 $36k a year to keep the payment at 30% of gross pay. That includes about $2,777 a year for home insurance (U.S.: $1,790).
• Buy vs. rent. Buying costs about $427/mo less than renting a typical home (mortgage payment vs. typical rent).
• Disaster risk. FEMA expects about $408 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from hurricanes. Check insurance costs before buying.
• Outlook. No clear direction: likely −7% to +9% over the next 12 months (66% chance of a rise).

Next 12 months

No clear direction

A rise is somewhat more likely than a fall, but not by enough to call. Likely change: −6.8% to +9.5% (80% range; middle estimate +2.4%), chance of a rise 66%, of a 5%+ drop 14%.

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 Iberia Parish, LA