Opelousas Louisiana property values (Baton Rouge, Lafayette: sales, real estate, apartment)

[dsimon3387]

dsimon writes:

Hello all I am new to this forum and generally do not like to jump in and start a thread but I am very anxious to get some information. Does anyone have good information (heresay or statistics is cool!) on how things are doing in Opelousas economically? Are people buying property? is there more projects being built, or being considered? Is it expanding or contracting?

I am interested in all comments both informal and from any other professionals involved with a business in the area, REal EState, or development.

[BRMan]

Originally Posted by dsimon3387

dsimon writes:

Hello all I am new to this forum and generally do not like to jump in and start a thread but I am very anxious to get some information. Does anyone have good information (heresay or statistics is cool!) on how things are doing in Opelousas economically? Are people buying property? is there more projects being built, or being considered? Is it expanding or contracting?

I am interested in all comments both informal and from any other professionals involved with a business in the area, REal EState, or development.

My impression is that while Opelousas is in one of the poorer parishes, it's benefitting from (1) being on I-49, ad (2) being near Lafayette. The other day, I took I-49 south to Lafayette and noticed suburban subdivisions sprouting on either side of I-49 just south of Opelousas. And I do know they recently built a Lowe's at I-49/Hwy 190.

[VeniceBeaches]

My daughter and her in-laws live in Opelousas. My daughter and her husband bought a house on Court Street. Very affordable. While it is a fixer-upper, it sits on an acre of land, has 2000 sq ft + a garage apartment. They also bought another house they've now got on the market - I don't know what the asking price is, but is in the older part of town, yet not walking distance to the "downtown".

Although I love where I live, I am sure that, at some point in my life, I will go back to LA and end up in Opelousas. I think it's a quaint, charming area, in spite of the city being rather economically depressed. It's nice, tho - that Lafayette is 20 min away and Baton Rouge is less than an hour away.

I believe that there is something for every budget in Opelousas.

[pisces66]

Opelousas has seen significant growth, especially over the last 10 years. In terms of job growth, I believe the last I read was that St Landry parish has added around 5000 new jobs since 2002. Of course they are not very high paying jobs, but it has made an economic impact. In October of 2007 St Landry reported its lowest unemployment figure ever recorded at 3.1%. Over the last few years, Opelousas has really seen a good bit of retail growth. Traffic has increased significantly all over Opelousas, especially in the Creswell Lane and I-49 areas. Population growth has been steady, with around 24,000 to 25,000 people in the city limits (thats up from 18,000 in 1990) and around 30,000 in the immediate Opelousas area. St Landry has grown from around 80,000 in 1990 to around 95,000 people now.

The residential growth has really been the most impressive. There are now 45 new subdivisions (with more in the planning stage) currently selling lots in the south Opelousas area. Most of the residential growth has been occurring along the Hwy 182 South and I-49 South areas between Opelousas and Sunset. The median home values have risen from about $50,000 in 2000 to around $120,000 today.....with most of the new homes currently under construction in the $200,000 - $250,000 range.

I would say that the market is probably the hottest its been since the 1960's.

[pisces66]

[quote=pisces66;2373108]Opelousas has seen significant growth, especially over the last 10 years. In terms of job growth, I believe the last I read was that St Landry parish has added around 5000 new jobs since 2002. Of course they are not very high paying jobs, but it has made an economic impact. In October of 2007 St Landry reported its lowest unemployment figure ever recorded at 3.1%. Over the last few years, Opelousas has really seen a good bit of retail growth. Traffic has increased significantly all over Opelousas, especially in the Creswell Lane and I-49 areas. Population growth has been steady, with around 24,000 to 25,000 people in the city limits (thats up from 18,000 in 1990) and around 30,000 in the immediate Opelousas area. St Landry has grown from around 80,000 in 1990 to around 95,000 people now.

The residential growth has really been the most impressive. There are now 45 new subdivisions (with more in the planning stage) currently selling lots in the south Opelousas area. Most of the residential growth has been occurring along the Hwy 182 South and I-49 South areas between Opelousas and Sunset. The median home values have risen from about $50,000 in 2000 to around $120,000 today.....with most of the new homes currently under construction in the $200,000 - $250,000 range.

I would say that the market is probably the hottest its been since the 1960's.

I just read an article that explained that housing sales in St Landry are up 70% since 2006. The article also indicated that housing sales in St Landry have surpassed all other areas in Acadiana, including Lafayette, when compared to 2006.

[billeau2]

[quote=pisces66;2375937]

Originally Posted by pisces66

Opelousas has seen significant growth, especially over the last 10 years. In terms of job growth, I believe the last I read was that St Landry parish has added around 5000 new jobs since 2002. Of course they are not very high paying jobs, but it has made an economic impact. In October of 2007 St Landry reported its lowest unemployment figure ever recorded at 3.1%. Over the last few years, Opelousas has really seen a good bit of retail growth. Traffic has increased significantly all over Opelousas, especially in the Creswell Lane and I-49 areas. Population growth has been steady, with around 24,000 to 25,000 people in the city limits (thats up from 18,000 in 1990) and around 30,000 in the immediate Opelousas area. St Landry has grown from around 80,000 in 1990 to around 95,000 people now.

The residential growth has really been the most impressive. There are now 45 new subdivisions (with more in the planning stage) currently selling lots in the south Opelousas area. Most of the residential growth has been occurring along the Hwy 182 South and I-49 South areas between Opelousas and Sunset. The median home values have risen from about $50,000 in 2000 to around $120,000 today.....with most of the new homes currently under construction in the $200,000 - $250,000 range.

I would say that the market is probably the hottest its been since the 1960's.

I just read an article that explained that housing sales in St Landry are up 70% since 2006. The article also indicated that housing sales in St Landry have surpassed all other areas in Acadiana, including Lafayette, when compared to 2006.

dsimon writes:

Sorry for the delayed response I could not get on the site. This is Dsimon3387. Thank you for the useful information provided. And thank the others who replied as well. We were jut in the area and it is amazing how much is going on down there.

[7khaleesi7]

Any updates on the area? What was or is spurring the growth? Has that ceased since the recession?