Birth rates in East Baton Rouge Parish rose considerably while home values shrunk slightly between 2010 and 2016, according to a new Zillow analysis.
Over the six-year span, the birth rate for East Baton Rouge Parish women aged 25 to 29 rose by 9% as home values in the parish dropped about 3%, with 228 more babies born than expected.
The report identifies a national correlation between birth rates and home values. In short, birth rates tended to drop in counties where home rose, but grew in counties where weaker home value growth was recorded—as was the case here.
The trend is most pronounced in California markets, as well as in Austin, Texas; Brooklyn, New York and Seattle.
In Los Angeles, while home values have shot up 31%, there’s been a 17% drop in birth rates, with 2,588 fewer babies born than expected between 2010 and 2016.
Raising a child is an expensive feat, and many couples may be questioning whether now is the right time to have kids or might be choosing to move to more affordable communities before starting a family, Zillow says in the report.
Many young adults aim for financial stability before having children, but with rising housing costs, financial stability may be increasingly out of reach—a 20% down payment on an average home in the US requires more than $40,000. Home values across the nation are appreciating at their fastest pace in 12 years, and are projected to rise another 6.5%over the next year. See the Zillow report.
