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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already −1.3% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, −5.0% YoY, is the number to watch.
The median listing price is down 1.3% YoY while the median home got up 9.5% bigger, so value per square foot is down 7.4%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $247K purchase rents for $1,200/mo: 0.49% of price per month against the 1% rule's 1.00%.
Not shown: 1 BR (rent only, no matching sale price), 5 BR (sale only, no matching rent).
Sales here take about 26 days longer to go under contract than rentals (median across 2 property types).
Not shown: Apartment (rented here, not sold), Condo (rented here, not sold), Land (sold here, not rented), Manufactured (sold here, not rented).
U.S. Census ACS characteristics for ZIP 70507 itself, not its parent county.
Renters hold 28.2% of this ZIP's 7,521 occupied households, on a median household income of $64K.
| Measure | ZIP 70507 | Lafayette Parish | Difference |
|---|---|---|---|
| Median Household Income | $64K | $67K | -$3K |
| Below Poverty Level | 18.2% | 17.1% | +1.1% |
| Median Age | 36.50 | 36.50 | 0.00 |
| Total Population | 20,096 | 247,997 | -- |
| Avg Household Size | 2.66 | 2.43 | +0.23 |
| Owner-Occupied | 71.8% | 65.5% | +6.3% |
| Worked From Home | 9.3% | 10.4% | -1.1% |
| Mean Commute | 24.70 | 22.90 | +1.80 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is up 1.2% to 247,997: residents under 18 are up 1.1% and those 65 and over are up 3.9%.
County median household income is $67K, 17.1% of residents are below the poverty level, 10.4% work from home.