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 4,044 people, 1,505 houses or apartments, and a median cost of homes of $223,379, house prices in Amite are solidly below the national average.
Single-family detached homes are the single most common housing type in Amite, accounting for 80.28% of the town's housing units. Other types of housing that are prevalent in Amite include mobile homes or trailers ( 12.21%), duplexes, homes converted to apartments or other small apartment buildings ( 4.76%), and a few large apartment complexes or high rise apartments ( 2.74%).
The most prevalent building size and type in Amite are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 45.44% owning and 54.56% renting.
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. Amite's housing was primarily built during this period, from the '40s through the '60s. A full 47.19% of the town's housing hails from this era. Other housing ages represented in Amite include homes built between 1970-1999 ( 32.49%) and housing constructed between 2000 and later ( 14.19%). There's also some housing in Amite built before 1939 ( 6.13%).
Vacant housing appears to be an issue in Amite. Fully 23.72% of the housing stock is classified as vacant. Left unchecked, vacant Amite homes and apartments can be a drag on the real estate market, holding Amite 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Amite, where house values have increased just 26.43%, which is annualized rate of 2.37%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Amite appreciation rates have trailed the rest of the nation. In the last twelve months, Amite's appreciation rate has been -6.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Amite were at 14.82%, which equates to an annual appreciation rate of 73.80%.
Importantly, this makes Amite one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Louisiana, our data show that Amite's latest annual appreciation rate is lower than 90% of the other cities and towns in Louisiana.
$223,379
for Louisiana
for nation
1,505
$1,255 / per month