St. Landry residential growth poised at unprecedented levels
St. Landry Parish ranked first among all of the parishes in suburban Acadiana in the number of houses sold in the first half of 2019, and that trend is likely to continue as young families look for homes they can afford in places they can enjoy.
The price of a new house is the major reason more and more people are looking at homes in the suburbs, according to Lafayette Realtor Jim Keaty. The average price of a home in Lafayette Parish is about $224,000. The average in St. Landry is about $140,000— an $80,000 difference for comparable housing.
St. Landry’s growth is good news because retailers take note of areas with residential development, and so do companies offering good jobs for the residents, according to St. Landry economic development director Bill Rodier.
“Families buying in the ranges under $140,000 to $225,000 are likely younger, middle class, working families, many with children. They will in many cases have higher expectations for things such as public schools, planning, infrastructure, and progressive political leadership,” he said.
These families are also “of high interest” to retailers and consumer-oriented businesses “because of their income and education levels,” he said.
Spending on new homes set a record in the eight-parish Acadiana region in 2018, according to real estate consultant Bill Bacque, and 2019 is on pace to break that record. He said sales of homes outside of Lafayette Parish are up more than 13 percent over the first six months of 2019.
Rodier notes that St. Landry is sharing in that growth, with a number of residential developments either in progress or in planning, including one that is thought to be the largest single development in the parish history.
“This means that builders have faith in our growth and future,” Rodier said. “They build homes in places where market data shows they can be sold reasonably quickly and with a reasonable profit.”
Rodier agreed with an analysis by Keating that uncertainties in the oil industry in Acadiana in recent years have caused some potential buyers to delay purchasing a new home.
The good news is that much of that uncertainty is beginning to dissipate, and that will fuel continued growth in home sales throughout the region.
St. Landry’s central location at the crossroads of two major highways and our improved parish highway system through the Smooth Ride Home Resurfacing Initiative allow improved access to our beautiful properties that are very attractive to many buyers, Rodier notes. “We are an easy commute to practically every place people need to be,” he said.
He also notes that St. Landry economic development’s commitment to “building strong and resilient local communities” as one of its most important tasks has played a role in attracting people who “want to enjoy and maintain our unique culture while also enjoying the benefits of modern life.”
“Simply put,” he said, “we offer an attractive, affordable place to live and to raise a family, and are working hard every day to make St. Landry an even better place to live, work, and enjoy a quality life.”
Three things to know about this story:
- Spending on new homes set a record in the eight-parish Acadiana region in 2018, and 2019 is on pace to break that record.
- Homes are affordable here. The average price of a home in Lafayette Parish is about $224,000. The average in St. Landry is about $140,000 for comparable housing.
- The growth is continuing. St. Landry has a number of residential developments either in progress or in planning.
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