BOSSIER CITY, LA (KSLA) - Home prices can be a big factor in where you and your family choose to live.
A new study ranks Bossier City as the second most affordable place to buy a house. The study looked at all Louisiana cities of at least 60 thousand people.
That’s according to the real estate website Homearea.com.
To rank affordability, the study compares local home prices with local incomes using median figures, defined as the middle point of a number set, in which half the numbers are above the median and half are below.
Bossier City’s median home price stands at $140,000 while the median household income amounts to $48,000.
Divide those two numbers and you get 3.4, what's called the "median multiple" used for state rankings and why Bossier did so well.
“And you couple that with the great school system, effective government, low taxes, it’s a win-win for the home buyers,” explained ReMax Realtor Tammi Montgomery.
Montgomery told us those rankings are for more than just bragging rights, but also with perception about the attractiveness of buying a home here.
"A lot of people may or may not be local that are buying here and they come to town and they're stunned at the amount of house they can get for the money."
That's the same conclusion reached by new home buyer Heather Stewart.
"I've been thinking about buying for a while. We've been living in an apartment for the past two and a half years. And it just seems that you can get a house for about the same price as a little bit more than you're paying for an apartment."
According to Homearea.com, In 2018 the economy was strong and real estate prices went up.
In 2019, many predict a downtown in the housing market.
But Montgomery concluded there's no downturn expected any time soon in Bossier City, especially after their best January in 9 years.