Over the past year, the Baton Rouge metropolitan statistical area saw the second-biggest decrease in home prices among the nation’s top 100 MSAs, according to the most recent House Price Index from the Federal Housing Finance Agency.
Home prices in Baton Rouge fell 0.2% between the fourth quarter of 2018 and the fourth quarter of 2019, making the MSA one of only three in the U.S. that saw a dip in home prices within the time period. The Albany-Schenectady-Troy area of New York saw the largest decrease (-1.7%), ranking at the bottom of the list, while home prices in the Bridgeport-Stamford-Norwalk area of Connecticut also dropped (-0.1%).
Conversely, prices in Boise, Idaho, shot up 12.7% over the year, the highest price appreciation in the U.S. Overall, U.S. home prices were up 5.1% from last year.
As a state, Louisiana had among the five smallest home price appreciation rates in the country over the past year, ranking 47th, as prices increased just 3%.
Baton Rouge’s home prices have not only underperformed in terms of national trends for the year, but also for the past quarter. Between the third and fourth quarters of 2019, U.S. home prices rose 1.3%; however in Baton Rouge, they decreased 2.2%.
Since the first quarter of 1991, home prices in Baton Rouge have risen 174.33%, and, in the past five years, by 16.16%, according to the index.