Rent, population, and median household income are important factors to consider for a 1031 exchange in Houma due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan Area
Houma, Louisiana is a part of the Houma-Thibodaux, LA metropolitan area, and contains 4 zip codes: 70361, 70364, 70360, and 70363.
Houma Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Houma, LA metropolitan area was $864, which is 3.85% lower than 2014 average rent. This represents a compounded annual growth rate of 0.76%. 2019 vacancy in Houma, LA was 6.00%.
The total population of the city of Houma, LA has decreased 2.56% since 2010. As of 2018, the population was 32,864. The median household income of the Houma was $43,780, which is 27.39% lower than the national average.
- metropolitan area Houma-Thibodaux, LA
- avg rent $864
- rent growth 3.85%
- vacancy 6.00%
- median income $43,780
- population (2018) 32,864
- population growth -2.56%
- vs. nat'l avg 27.39%
- zip codes 70360 70361 70363 70364