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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 2,995 people, 1,199 houses or apartments, and a median cost of homes of $102,101, house prices in Ferriday are some of the most affordable in Louisiana as well as the nation.
Single-family detached homes are the single most common housing type in Ferriday, accounting for 77.55% of the town's housing units. Other types of housing that are prevalent in Ferriday include mobile homes or trailers ( 10.03%), large apartment complexes or high rise apartments ( 6.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.16%).
The most prevalent building size and type in Ferriday are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 59.24% owning and 40.76% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Ferriday's housing was primarily built during this period, from the '40s through the '60s. A full 41.78% of the town's housing hails from this era. Other housing ages represented in Ferriday include homes built between 1970-1999 ( 38.83%) and housing constructed between 2000 and later ( 10.26%). There's also some housing in Ferriday built before 1939 ( 9.13%).
Vacant housing appears to be an issue in Ferriday. Fully 32.03% of the housing stock is classified as vacant. Left unchecked, vacant Ferriday homes and apartments can be a drag on the real estate market, holding Ferriday 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Ferriday, where house values have increased just 45.40%, which is annualized rate of 3.81%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Ferriday that despite a nationwide downturn in the housing market, Ferriday real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ferriday appreciation rates continue to be some of the highest in America, at 7.10%, which is higher than appreciation rates in 84.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ferriday. Ferriday appreciation rates in the latest quarter were at 4.03%, which equates to an annual appreciation rate of 17.12%.
Importantly, this makes Ferriday one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Louisiana, our data show that Ferriday's latest annual appreciation rate is higher than 60% of the other cities and towns in Louisiana.
$102,101
for Louisiana
for nation
1,199
$1,199 / per month