70611, Lake Charles, LA

Lake Charles, Louisiana is a city located in Calcasieu Parish. The population of Lake Charles was 128,812 as of the 2010 census. The 70611 zip code covers most of the city and has a population of 78,715.

The median home value in the 70611 zip code is $134,000 and the median home equity is $102,000. Home prices have increased significantly over the past few years and are now at an all-time high. In 2008, the median home value was $97,500 and by 2016 it had increased to $134,000. This represents a compound annual growth rate (CAGR) of 6%. Over this same time period, home equity grew by an even greater amount – CAGR was 9%. This indicates that homeowners are benefiting greatly from rising home values.

One reason for this rapid appreciation in homes is that there are relatively few homes for sale in the 70611 zip code compared to other areas of Louisiana. In fact, only 2% of homes for sale are currently available compared to 5% nationally. Additionally, Lake Charles has seen strong job growth over the past few years which has led to an increase in household incomes. As a result, more people can afford to buy homes and invest in their property portfolio.

Despite these positive factors contributing to rising home values in Lake Charles, there are some risks associated with buying a home here that should be considered before making any decisions about purchasing or selling a property:

-The current market conditions may not last indefinitely – although it seems likely that prices will continue to rise for some time;

-There could be a sudden drop in prices if interest rates go up or if another economic recession hits;

-Homeowners who have taken out mortgages may find themselves unable to meet their obligations if interest rates increase or if they experience financial difficulties;

-Homeowners who have invested heavily into their properties may find themselves struggling if market conditions change dramatically and they cannot sell their house at its current price level;

-Finally,.although crime rates have decreased significantly over recent years in Lake Charles (as they have throughout much of Louisiana), there is always potential for crime occurring anywhere which could impact homeowner security and property values