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 a population of 4,533, 1,831 total housing units (homes and apartments), and a median house value of $228,114, house prices in Arabi are solidly below the national average.
Single-family detached homes are the single most common housing type in Arabi, accounting for 73.16% of the town's housing units. Other types of housing that are prevalent in Arabi include duplexes, homes converted to apartments or other small apartment buildings ( 11.96%), large apartment complexes or high rise apartments ( 8.15%), and a few row houses and other attached homes ( 5.46%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Arabi. Owner-occupied housing accounts for 70.92% of Arabi's homes, and 55.23% have either three or four bedrooms, which is average sized relative to America.
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. Arabi's housing was primarily built during this period, from the '40s through the '60s. A full 52.73% of the town's housing hails from this era. Other housing ages represented in Arabi include homes built between 1970-1999 ( 23.96%) and housing constructed between 2000 and later ( 12.81%). There's also some housing in Arabi built before 1939 ( 10.50%).
Vacant housing appears to be an issue in Arabi. Fully 13.79% of the housing stock is classified as vacant. Left unchecked, vacant Arabi homes and apartments can be a drag on the real estate market, holding Arabi 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.
Appreciation rates for homes in Arabi have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.40%, which ranks in the top 40% nationwide. This equates to an annual average Arabi house appreciation rate of 7.09%.
Over the last year, Arabi appreciation rates have trailed the rest of the nation. In the last twelve months, Arabi's appreciation rate has been -2.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Arabi were at -0.81%, which equates to an annual appreciation rate of -3.20%.
Notably, Arabi's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Louisiana, our data show that Arabi's latest annual appreciation rate is lower than 90% of the other cities and towns in Louisiana.
$228,114
for Louisiana
for nation
1,831
$1,332 / per month