Real Estate Directory - Louisiana

Population: 4,515,770 (2004)
Capital city/population: Baton Rouge (225,090) (2003)
Largest cities/population:

  • New Orleans - 469,032
  • Baton Rouge - 225,090
  • Shreveport - 198,364
  • Metairie - 145,400

(all 2003)

Louisiana is the 31st largest state, with a total area of 51,843 square miles. The state has a moist, almost-tropical climate, with the Gulf of Mexico providing warm winds that keep the temperature relatively even. Average January temperatures range from 48ºF - 55ºF; July temperatures average 82ºF statewide. Annual precipitation ranges from 46” – 60”. On April 30, 1812, Louisiana became the 18th state. It is the only state in the union with no counties; its political subdivisions are called parishes. Louisiana has the tallest state capitol building in the nation at 450’ tall with 34 floors.

HOUSING

New Orleans- The city is undergoing a massive rebuilding due to the damage from Hurricane Katrina. People are renovating their properties and working with insurance companies and contractors to rebuild. Agents estimate higher home values after reconstruction is complete.

Baton Rouge- Agents report a surge of uprooted families from New Orleans causing a rush on real estate in the city. Home prices have surged as a result, with buyers triggering a bidding war that led to price hikes of 20% - 30% in some sections of the community. Corporations also entered the market, seeking rental properties for relocation. Home sellers also entered the market, attempting to capitalize on strong selling prices.

Shreveport- Pending home sales (considered when a contract has been signed, but the transaction hasn’t closed) are down slightly due to damage from Hurricane Katrina. An index of 100 is equal to the average level of contract activity. The market is in a transition as displaced residents are seeking new homes.

Metairie- This community didn’t suffer as much as New Orleans did, so rebuilding will take place at a faster rate. Property values have increased due to the upgrading and desire of displaced flood victims to relocate to nearby cities. This community has good neighborhoods, parks, and schools.

BUSINESS/ECONOMY

Principal industries include wholesale/retail trade, tourism, government, manufacturing, construction, and transportation. Manufactured goods include chemical products, foods, transportation equipment, petroleum products, lumber, wood, and paper. Agricultural outputs include soybeans, sugarcane, rice, corn, cotton, sweet potatoes, and pecans. Louisiana is the biggest producer of crawfish in the world. Tourism is a strong industry, with out-of-state visitors contributing $5.5 billion to the 1994 economy. For 2003, the total gross state product was $140 billion, with a per capita income for the same year of $26,312.

SCHOOLS

Many school districts have been damaged or eliminated due to damage from Hurricane Katrina. The state has set up a program to allow displaced students to attend school in other districts. In the public sector, as of 1994 the student-teacher ratio was 16:8, with an average 1995 teachers’ salary of $26,800.

Higher learning institutions include Louisiana State University – Baton Rouge, Shreveport Medical Center – New Orleans. Other schools include Grambling State University, Louisiana Tech – Ruston, McNeese State University – Lake Charles, Northwestern State University – Natchitoches, and University of New Orleans. Tulane University and Loyola University, both at New Orleans, are private schools.

HISTORY

During his administration, Jefferson purchased the area of Louisiana from Napoleon in 1803. This territory was divided into two parts; the southern part was admitted to the Union in 1812 as the state of Louisiana. Settlers arrived, developing sugar and cotton plantations. The development of steamboats enhanced the economy; by 1840, New Orleans was the nation’s second largest port.

In 1861, Louisiana seceded from the Union and joined the Confederacy shortly after. After Lincoln’s assassination, the state suffered during the Reconstruction period. In order to urge withdrawal of federal troops from the state, electoral votes were traded in the presidential election of 1876, leading to white control of the state.

Louisiana’s economy was changed by the discovery of oil and natural gas in the early 1900s, and industries grew as a result. Civil rights have long been struggle in the state, with integration taking place after a 1954 Supreme Court decision banning racial segregation.

An oil boom took place in the early 1980s, but was then damaged after the collapse of oil prices in 1986. Recent environmental problems include damage from erosion, oil exploitation, and river control projects.

RELIGION (2003)

  • Christian — 90%
    • Protestant — 60%
      • Baptist — 38%
      • Methodist — 4%
      • Pentecostal — 2%
      • Other Protestant – 16%
    • Roman Catholic — 30%
    • Other Christian — 1%
  • Other Religions — <1%
  • Non-Religious — 10%

DEMOGRAPHICS (2003)

The racial makeup of the state is:

  • 62.5% White
  • 32.5% Black
  • 2.4% Hispanic
  • 1.2% Asian
  • 0.6% Native American
  • 1.1% Mixed race