Housing
Vacancy - 12%
The Baton Rouge-Alexandria, LA Market ranks 60th in Vacancy across STI Markets with a Vacancy rate of 12%. That is 91,342 Vacant Housing units compared to 671,007 Occupied units.
Average Home Value - $267,507
The Average Home Value for owner occupied housing units in the Baton Rouge-Alexandria, LA Market is $267,507. This ranks 135th across STI Markets. Over the last 2 years there has been a change of 3.8% in this markets Average Home Value, compared to a national change of 11.8%. This 2 year change in home values ranks 163rd across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - Low
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the Baton Rouge-Alexandria, LA Market is 2.9. The market subsequently ranks 91st across STI Markets. This is considered to be a Low level of mortgage risk.
Affordability Level - Affordable
Overall Affordability can be classified in a similar fashion, comparing the Markets Average Home Value with the Average Household Income. This Affordability ratio currently sits at 2.8. The Baton Rouge-Alexandria, LA Market therefore earns the Affordable classification for housing affordability and ranks 144th across STI Markets. The following chart shows how markets compare between these two measure. Note the breaks between affordability classifications are 3, 5, and 7.
Figure 60: Affordability Comparision
