The analysis presented in this report was completed before the release of the
2020 Decennial Census; therefore, the current estimates may not reflect the true
change since April 1, 2010; however, the direction and magnitude of trends in
the data are presumed to be accurate. HUD will provide an updated report that
incorporates data from the 2020 Decennial Census in the future.
U.S. Department of Housing and Urban Development,
Oce of Policy Development and Research
As of August 1, 2021
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COMPREHENSIVE HOUSING MARKET ANALYSIS
Shreveport-Bossier City,
Louisiana
Executive Summary 2Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Executive Summary
Housing Market Area Description
The Shreveport-Bossier City Housing Market Area
(hereafter, Shreveport HMA) is coterminous with the
Shreveport-Bossier City, LA Metropolitan Statistical
Area (MSA), which includes four parishes: Bossier,
Caddo, De Soto, and Webster. The HMA is the
economic hub for northwestern Louisiana, and the
majority of economic activity in the HMA occurs in
the two most populous parishes, Bossier and
Caddo Parishes.
The current population of the HMA is estimated
at 428,800.
Bordered by the states of Arkansas and Texas, the
HMA is part of the socioeconomic region referred
to as the Ark-La-Tex region. Caddo Parish was
named after the Caddo Nation, who were the
original inhabitants of northwest Louisiana. The city
of Shreveport is the largest city of Caddo Parish
and is home to the Shreveport Municipal Memorial
Auditorium, which hosted the Louisiana Hayride
radio show (1948–60). Elvis Presley performed on the
show in 1954, before his stardom, and was offered
a contract for additional performances. The phrase
“Elvis has left the building” was coined upon his last
performance on the Louisiana Hayride in 1956.
Tools and Resources
Find interim updates for this metropolitan area, and select geographies nationally, at PD&R’s
Market-at-a-Glance tool.
Additional data for the HMA can be found in this report’s supplemental tables.
For information on HUD-supported activity in this area, see the Community Assessment Reporting Tool.
Executive Summary 3Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Market Qualifiers
Job loss in the HMA due to the countermeasures
implemented to slow the spread of COVID-19 was
severe; 22,000 jobs were lost during March and
April 2020, and only 51 percent of those jobs had
been recovered through July 2021 (not seasonally
adjusted). During the 3-year forecast period,
nonfarm payrolls are expected to increase at an
average annual rate of 1.8 percent as the HMA
recovers from the economic slowdown caused
by the pandemic.
The sales housing market in the HMA is currently
balanced, with an estimated vacancy rate of
1.3 percent, down from 1.4 percent in 2010. During
the 12 months ending June 2021, the average
existing home sales price increased 15 percent, to
$178,600, and the average new home sales price
decreased 3 percent, to $252,800 (CoreLogic,
Inc.). During the next 3 years, demand is estimated
for 3,300 new homes. The 310 homes under
construction are expected to satisfy some of the
demand in the first year of the forecast period.
The overall rental housing market is balanced,
with a current rental vacancy rate estimated at
7.0 percent, down from 8.0 percent in 2010.
The apartment market is slightly tight, with a
vacancy rate of 4.5 percent during the second
quarter of 2021, down from 6.4 percent a year
earlier, whereas the average apartment rent
increased 8 percent, to $872 (RealPage, Inc.).
During the forecast period, demand is estimated
for 290 new rental units; the 170 units currently
under construction are expected to meet part
of that demand.
Economy
Weak: Before the COVID-19
pandemic, the HMA had been losing
jobs since 2012 except in 2014 and
2018, when nonfarm payroll growth
was moderate.
Rental Market
Balanced: The apartment market
has tightened since a period of
peak vacancy during the second
quarters of 2016 and 2017, when
market conditions were soft.
Sales Market
Balanced: Existing home sales
increased 16 percent during the
12 months ending June 2021,
compared with a decline of
1 percent from a year earlier.
TABLE OF CONTENTS
Economic Conditions 4
Population and Households 9
Home Sales Market 11
Rental Market 15
Terminology Definitions and Notes 18
3-Year Housing Demand Forecast
Sales Units Rental Units
Shreveport HMA
Total Demand 3,300 290
Under Construction 310 170
Notes: Total demand represents the estimated production necessary to achieve a balanced market at the end of the forecast period. Units under
construction as of August 1, 2021. The forecast period is August 1, 2021, to August 1, 2024.
Source: Estimates by the analyst
Economic Conditions 4Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Economic Conditions
Largest Sector: Education and Health Services
The goods-producing sectors have had a significant impact on
economic conditions in the HMA even though they represent a
smaller proportion of jobs than the service-providing sectors;
since 2012, the goods-producing sectors have lost an average
of 1,000 jobs annually.
Primary Local Economic Factors
The economy in the Shreveport HMA depends heavily on the education and
health services, the transportation and utilities, and the professional and
business services sectors because they have been the only sectors to grow
since 2011 (Figure 1). Although the education and health services and the
government sectors each account for 18 percent of the share of nonfarm
payroll jobs in the HMA (Figure 2), the education and health services sector is
the largest sector and has been the fastest growing sector in the HMA since
2011. The prominence of the sector is primarily due to the presence of two
major medical centers, the Willis-Knighton Health System and the Ochsner
Louisiana State University (LSU) Health Shreveport-Academic Medical Center,
a result of a public-private partnership agreement between Ochsner Health
and LSU Health Shreveport established in 2018. Although the transportation
and utilities sector accounts for 4 percent of the nonfarm payroll jobs in
the HMA, it has been the second fastest growing sector since 2011, partly
because of the Port of Caddo-Bossier. Located in southeastern Caddo Parish,
close to rail lines and easily accessible to Interstate Highways 20 and 49, the
inland port provides infrastructure to support manufacturing and warehousing
facilities. Current tenants at the port include warehousing tenants such
as Odyssey Specialized Logistics LLC (formerly ADS Logistics Co., LLC),
which supports the metals industry; Genesis Energy, L.P., which provides
warehousing for refined petroleum and chemical products; and Ternium
USA Inc., which manufactures steel products.
Education & Health Services
18%
Mining, Logging, & Construction 6%
Manufacturing 6%
Transportation
& Utilities 4%
Information 1%
Financial Activities 4%
Professional & Business
Services 11%
Leisure &
Hospitality 11%
Other Services 4%
Federal 3%
State 4%
Local 11%
Total
167.1
Government
18%
Wholesale 4%
Retail 13%
Trade 17%
Figure 2. Share of Nonfarm Payroll Jobs in the Shreveport HMA, by Sector
Notes: Total nonfarm payroll is in thousands. Percentages may not add to 100 percent due to rounding.
Based on 12-month averages through July 2021.
Source: U.S. Bureau of Labor Statistics
Total Nonfarm Payroll Jobs
Goods-Producing Sectors
Mining, Logging, & Construction
Manufacturing
Service-Providing Sectors
Wholesale & Retail Trade
Transportation & Utilities
Information
Financial Activities
Professional & Business Services
Education & Health Services
Leisure & Hospitality
Other Services
Government
-60 -50 10-40 -30 -20 -10 0
Change in Jobs (%)
Figure 1. Sector Growth in the Shreveport HMA, 2011 to Current
Note: The current date is August 1, 2021.
Source: U.S. Bureau of Labor Statistics
Economic Conditions 5Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
The professional and business services sector has been an influential nonfarm
payroll sector in the HMA. In May 2020, the U.S. Air Force Global Strike Command
innovation hub, STRIKEWERX, opened at the Cyber Innovation Center in Bossier
City. STRIKEWERX is a public-private partnership that provides public entry for
businesses and academia to collaborate with the U.S. Air Force Global Strike
Command to provide technological solutions for the Command.
The government sector is the second largest payroll sector in the HMA, and it
includes employees from LSU Shreveport and the cities of Shreveport and Bossier
City. Home to the Air Force Global Strike Command, Barksdale Air Force Base
(BAFB) is the largest employer in the HMA (Table 1) and had an annual economic
impact of $858.4 million during the 2020 fiscal year (United States Air Force).
The third largest nonfarm payroll sector in the HMA is the wholesale and retail
trade sector, followed by the leisure and hospitality sector, which is primarily
supported by the casino gaming industry. The Shreveport HMA has the
second largest gaming industry in the state, following the Lake Charles MSA
(Louisiana State Police, Louisiana Gaming Control Board). Riverboat casinos
and slot machines at Harrah’s Louisiana Downs racetrack, owned by Caesars
Entertainment, Inc., generated approximately $58.6 million in revenue during
July 2021.
Current Conditions and the Impact of
COVID-19 on Nonfarm Payrolls in the HMA
Interventions taken in mid-March 2020 to slow the spread of COVID-19,
including limiting nonessential business activity and discouraging nonessential
travel, worsened already-weak economic conditions in the HMA. Nonfarm
payrolls fell by 22,000 jobs during March and April 2020. Job recovery began
in May 2020, but recovery has been uneven during the first 7 months of 2021.
From May 2020 through July 2021, 51 percent of the jobs lost in the HMA were
recovered. Despite this partial recovery, economic conditions remain weak.
During the 12 months ending July 2021, nonfarm payrolls in the HMA fell by
6,500 jobs, or 3.7 percent, to 167,100 compared with a year ago (Table 2). The
payroll sectors most affected by efforts to slow the spread of COVID-19 were
Table 2. 12-Month Average Nonfarm Payroll Jobs (1,000s)
in the Shreveport HMA, by Sector
12 Months
Ending
July 2020
12 Months
Ending
July 2021
Absolute
Change
Percentage
Change
Total Nonfarm Payroll Jobs
173.6 167.1 -6.5 -3.7
Goods-Producing Sectors
22.5 20.0 -2.5 -11.1
Mining, Logging, & Construction
12.1 10.5 -1.6 -13.2
Manufacturing
10.5 9.5 -1.0 -9.5
Service-Providing Sectors
151.1 147.1 -4.0 -2.6
Wholesale & Retail Trade
28.5 28.2 -0.3 -1.1
Transportation & Utilities
7.0 6.9 -0.1 -1.4
Information
1.6 1.5 -0.1 -6.3
Financial Activities
7.5 7.1 -0.4 -5.3
Professional & Business Services
17.5 17.9 0.4 2.3
Education & Health Services
32.2 30.9 -1.3 -4.0
Leisure & Hospitality
20.8 18.8 -2.0 -9.6
Other Services
6.1 6.0 -0.1 -1.6
Government
29.8 29.9 0.1 0.3
Notes: Based on 12-month averages through July 2020 and July 2021. Numbers may not add to totals due to
rounding. Data are in thousands.
Source: U.S. Bureau of Labor Statistics
Name of Employer Nonfarm Payroll Sector Number of Employees
Barksdale Air Force Base* Government 9,250
Willis-Knighton Health System Education & Health Services 7,425
Ochsner Louisiana State University Health
Shreveport-Academic Medical Center
Education & Health Services 3,000
General Dynamics Information Technology, Inc. Professional & Business Services 1,100
Caesars Entertainment, Inc. Leisure & Hospitality 1,100
Penn National Gaming, Inc. Leisure & Hospitality 1,025
Bally’s Shreveport Casino & Hotel Leisure & Hospitality 1,000
CHRISTUS Health Education & Health Services 900
City of Bossier City Government 750
Boyd Gaming Corporation Leisure & Hospitality 750
Table 1. Major Employers in the Shreveport HMA
*Data include military personnel, who are generally not included in nonfarm payroll survey data.
Note: Excludes local school districts.
Source: Greater Bossier Economic Development Foundation, November 2019
Economic Conditions 6Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
those sectors with jobs that cannot easily be done
remotely. The majority of the losses occurred
in the service-providing sectors, which fell by
4,000 jobs, or 2.6 percent, during this period.
The leisure and hospitality sector accounted for
31 percent of total job losses, declining by 2,000
jobs, or 9.6 percent, compared with a year earlier.
Casinos were severely affected by efforts to slow
the spread of COVID-19. From the beginning of
the pandemic through the end of 2020, gaming
industry companies filed Worker Adjustment
and Retraining Notifications (WARN) with the
Louisiana Workforce Commission to notify nearly
2,300 casino workers in the HMA that they would
be laid off. The education and health services
sector fell by 1,300 jobs, or 4.0 percent, during
the 12 months ending July 2021, partly because
health care and social assistance industry jobs
fell by 1,200, or 4.0 percent. The professional
and business services sector and the government
sector were the only sectors to expand during the
12 months ending July 2021, increasing by 400
and 100 jobs, or 2.3 and 0.3 percent, respectively.
During the 12 months ending July 2021, the
goods-producing sectors declined by 2,500 jobs,
or 11.1 percent, because demand for products fell
and oil production slowed. When companies in
Shreveport HMA Nation
10.0
9.0
8.0
7.0
6.0
5.0
4.0
3.0
Unemployment Rate (%)
Jul-00
Jul-01
Jul-02
Jul-03
Jul-04
Jul-05
Jul-06
Jul-07
Jul-08
Jul-09
Jul-10
Jul-11
Jul-12
Jul-13
Jul-14
Jul-15
Jul-16
Jul-17
Jul-18
Jul-19
Jul-20
Jul-21
Figure 3. 12-Month Average Unemployment Rate in the Shreveport HMA and the Nation
Note: Based on the 12-month moving average.
Source: U.S. Bureau of Labor Statistics
the oil and gas extraction industry laid off employees in the HMA, the mining, logging, and construction
sector fell by 1,600 jobs, or 13.2 percent, from a year earlier, accounting for 25 percent of total nonfarm
payroll losses. During the 12 months ending July 2021, the manufacturing sector fell 9.5 percent from a
year earlier. In 2020, two large manufacturers, Libbey Inc. and Benteler/Steel Tube, laid off 450 and 375
employees, respectively (Louisiana Workforce Commission, 2020 WARN).
Current Conditions—Unemployment
The unemployment rate in the HMA averaged 7.0 percent during the 12 months ending July 2021,
unchanged from the previous 12 months but down from the recent annual average peak of 8.5 percent
during the 12 months ending March 2021 (Figure 3). By comparison, the unemployment rate in the nation
averaged 6.5 percent during the 12 months ending July 2021, unchanged from a year earlier.
Economic Conditions 7Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Economic Periods of Significance
National Recession Nonfarm Payrolls
Jul-00
Jul-01
Jul-02
Jul-03
Jul-04
Jul-05
Jul-06
Jul-07
Jul-08
Jul-09
Jul-10
Jul-11
Jul-12
Jul-13
Jul-14
Jul-15
Jul-16
Jul-17
Jul-18
Jul-19
Jul-20
Jul-21
195
190
185
180
175
170
165
160
Nonfarm Payrolls (in Thousands)
Note: 12-month moving average.
Sources: National Bureau of Economic Research; U.S. Bureau of Labor Statistics
Figure 4. 12-Month Average Nonfarm Payrolls in the Shreveport HMA
2001 Through 2008
As a result of the national recession in the
early part of the decade, nonfarm payrolls in
the HMA fell from 2001 through 2003 by an
average of 1,400 jobs, or 0.8 percent, annually
before increasing an average of 3,100 jobs, or
1.7 percent, annually from 2004 through 2008
(Figure 4). During the 5-year period, the largest
gains were in the professional and business
services sector, which increased an average of
900 jobs, or 5.7 percent, annually, followed by
the wholesale and retail trade and the education
and health services sectors, both increasing an
average of 700 jobs annually, or 2.3 and
2.6 percent, respectively. Part of the expansion
happened because demand for goods and
services increased after people temporarily
relocated from the New Orleans MSA to the HMA
due to the landfall of Hurricane Katrina in 2005.
In 2008, a natural gas mining technique called
fracking made natural gas mining more attractive
to natural gas extraction companies, which led
to an expansion in production at the Haynesville
Shale natural gas field in the HMA. When
production began to expand, the mining, logging,
and construction sector increased by 800 jobs,
or 5.7 percent, in 2008.
2009 Through 2011
Nonfarm payrolls in the HMA fell by 4,500 jobs,
or 2.3 percent, to 188,200 jobs during 2009 as
a result of the national recession that began in late 2007. The impact of the recession was short lived in
the HMA, partly because natural gas extraction activities in the HMA continued to be strong. Economic
conditions improved during 2010 and 2011, and nonfarm payrolls increased by 1,200 jobs, or 0.6 percent,
annually, to 190,500 jobs. The mining, logging, and construction sector rose by an average of 1,400 jobs,
or 8.9 percent, annually during the 2 years.
2012 Through 2019
Nonfarm payrolls trended downward from 2012 through 2019 in the HMA. In 2012, the goods-producing
sectors lost jobs when General Motors Company closed its manufacturing facility and mining and
extraction companies shifted resources to more profitable natural gas fields outside the HMA. As the
number of nonfarm payrolls in the HMA fell, workers began to leave the HMA, leading to a decline in the
demand for goods and services. During 2012 and 2013, nonfarm payrolls fell by an average of 3,300 jobs, or
1.7 percent, annually, to 184,000 jobs. Job losses in the goods-producing sector accounted for 70 percent
of the decline. The decline in the service-providing sectors was less severe, partly because the leisure
and hospitality sector increased by an average of 500 jobs, or 2.0 percent, annually. Bossier Casino
Economic Conditions 8Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Employment Forecast
During the 3-year forecast period, nonfarm payrolls in the Shreveport HMA
are expected to increase at an average rate of 1.8 percent annually. Job
growth is expected to be greatest during the first year of the forecast, with
nonfarm payrolls returning to prepandemic levels anticipated by the end
of the third year. Job gains are expected to be strong in the transportation
and utilities sector as demand for e-commerce goods continues to rise.
Amazon.com, Inc. plans to begin construction on a $200 million robotic
distribution center in Caddo Parish, which is expected to be completed in
2022. The project is expected to create 800 construction jobs and 1,000
permanent jobs. Road infrastructure projects totaling $30 million are expected
to contribute to construction-related employment during the first year of the
forecast period. Jobs in the leisure and hospitality sector are also expected
to increase when local casinos receive state approval for sports betting in
their establishments.
Venture, Inc. opened the Margaritaville Resort Casino in 2013, when up to
1,200 jobs were expected to be created.
Economic conditions in the HMA temporarily improved during 2014, as
nonfarm payrolls increased by 500 jobs, or 0.3 percent, before declining
by 1,400, or 0.7 percent, annually from 2015 through 2017. Although job
losses were most severe among the goods-producing sectors during this
period, the service-providing sectors accounted for 43 percent of the total
losses. Construction of the Integrated Technology Center, located at the
National Cyber Research Park, was completed in 2015, contributing to the
decline in the mining, logging, and construction sector jobs during this
period. The decline in payrolls briefly reversed as the economy in the
HMA expanded by 1,200 jobs, or 0.7 percent, during 2018, with the goods-
producing sectors accounting for 58 percent of the expansion. The service-
providing sectors increased at a slower pace, with the largest gains
occurring in the professional and business services sector, which increased
by 1,500, or 8.8 percent. Gains in the administrative and support and
waste management industries accounted for 53 percent of that increase
to accommodate business expansions in the HMA. In 2019, payrolls fell by
500 jobs, or 0.3 percent. The wholesale and retail trade sector lost the most
jobs during the year because demand for e-commerce goods rose in the
HMA and contributed to the decline in the retail subsector, which accounted
for 86 percent of the loss in the sector. Although the mining, logging, and
construction sector lost 300 jobs during 2019, those losses were partially
offset by jobs added from the $73 million Interstate 20-Interstate 220 BAFB
Interchange Road project that began in May 2019.
Population and Households 9Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Population and Households
Current Population: 428,800
Coinciding with weakening economic conditions in the HMA, net
out-migration from the HMA has occurred each year since 2012.
Population Trends
Population growth was stagnant from 2000 to 2003 due to average net
out-migration of 1,750 people annually (Figure 5), as the HMA lost jobs—a
consequence of the national recession. From 2003 to 2004, net in-migration
increased, and the population grew by 3,450, or 0.8 percent, annually.
Population growth in the HMA peaked from 2005 to 2006, up by 6,550
people, or 1.5 percent, when people temporarily relocated to the HMA from
the New Orleans MSA due to Hurricane Katrina. From 2006 to 2009, as people
returned to the New Orleans MSA and nonfarm payrolls fell in 2009, population
growth slowed to an average of 1,700, or 0.4 percent, annually, with average net
out-migration of 550 people. All the population growth during this period was
due to positive net natural change, which averaged 2,250 people each year. The
population increased an average of 4,175, or 0.9 percent, annually from 2009 to
2012. Net in-migration accounted for 47 percent of the population growth during
this period, partly due to increased hiring in the HMA as a result of natural gas
mining activity in the Haynesville Shale natural gas field through 2011. Since
2012, as the economy in the HMA has contracted, the population has declined by
an average of 2,175, or 0.5 percent, annually. Net out-migration has fluctuated,
averaging 3,275 people each year, and net natural change moderated, then
slowed, averaging 1,100 people each year. As of August 1, 2021, the estimated
population of the HMA is approximately 428,800, representing an average
decline of 970, or 0.2 percent, annually since April 2010 (Table 3).
Household Trends
The current number of households in the HMA is estimated at 174,100, relatively
unchanged from April 2010. By comparison, households increased by an
average of 1,375, or 0.8 percent, a year from 2000 to 2010. Currently, an
2000–2001
2001–2002
2002–2003
2003–2004
2004–2005
2005–2006
2006–2007
2007–2008
2008–2009
2009–2010
2010–2011
2011–2012
2012–2013
2013–2014
2014–2015
2015–2016
2016–2017
2017–2018
2018–2019
2019–2020
2020–Current
Current–Forecast
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
-1,000
-2,000
-3,000
-4,000
Population Change
Net Natural Change Net Migration Population Growth
Notes: Data displayed are average annual totals. The forecast period is from the current date (August 1, 2021)
to August 1, 2024.
Sources: U.S. Census Bureau; current to forecast—estimates by the analyst
Figure 5. Components of Population Change in the Shreveport HMA,
2000 Through the Forecast
Population
Quick Facts
2010 Current Forecast
Population 439,811 428,800 428,300
Average Annual Change 2,200 -970 -180
Percentage Change 0.5 -0.2 0.0
Household
Quick Facts
2010 Current Forecast
Households 174,453 174,100 175,200
Average Annual Change 1,375 -35 380
Percentage Change 0.8 0.0 0.2
Table 3. Shreveport HMA Population and Household Quick Facts
Notes: Average annual changes and percentage changes are based on averages from 2000 to 2010, 2010 to
current, and current to forecast. The forecast period is from the current date (August 1, 2021) to August 1, 2024.
Sources: 2000 and 2010—2000 Census and 2010 Census; current and forecast—estimates by the analyst
Population and Households 10Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
estimated 65.7 percent of households, or 114,400,
are homeowners (Figure 6). The homeownership
rate in the HMA has increased since 2010, when
the homeownership rate was 64.8 percent. The
homeownership rate has increased because the
number of owner households has increased since
2010, whereas the number of renter households
has decreased.
Forecast
The pace of population decline in the Shreveport
HMA is expected to slow during the forecast period;
the population is expected to fall to 428,300 by
August 1, 2024, reflecting an average annual
decline of 180, which is relatively unchanged
from the current population estimate. As the HMA
recovers jobs lost during the pandemic, the pace
of out-migration is expected to slow compared
with the pace from 2010 to the current period.
Household growth is expected to average 380, or
0.2 percent, annually, reaching 175,200 households
in the HMA by the end of the forecast period.
67. 4
66.3
65.2
64.1
63.0
180,000
135,000
90,000
45,000
0
2000 2010 Current
Homeownership Rate (%)
Households
RenterOwner Homeownership Rate (%)
67. 0
64.8
65.7
Figure 6. Households by Tenure and Homeownership Rate in the Shreveport HMA
Note: The current date is August 1, 2021.
Sources: 2000 and 2010—2000 Census and 2010 Census; current—estimates by the analyst
Home Sales Market 11Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Home Sales Market
Market Conditions: Balanced
During the 12 months ending June 2021, the average sales prices
for new and existing homes increased 12 percent, with an increase
in average existing home sales prices more than offsetting a decline
in average new home sales prices (CoreLogic, Inc.).
Current Conditions
The sales housing market in the Shreveport HMA is currently balanced, with
home sales and home sales prices increasing at a more rapid pace since 2019
compared with 2015 through 2018, when home sales and home sales prices
increased each year by an average of 2 and 1 percent, respectively. The sales
vacancy rate in the HMA is currently estimated at 1.3 percent (Table 4), down
slightly from 1.4 percent in April 2010, when the market was also balanced.
The inventory of available homes for sale was 2.1 months in June 2021—down
from 3.9 months in June 2020 and well below the peak of 6.5 months in
August 2016 (CoreLogic, Inc.). During the 12 months ending June 2021, total
home sales, which includes new and existing homes, increased 14 percent,
to 8,275 homes sold. During the same period, the average home sales price,
which includes new and existing homes, increased 12 percent, to $183,500.
The increase in total home sales and prices during this period is due to
accelerated activity in the existing home sales market, which occurred partly
because of low mortgage interest rates.
New Home Sales
From 2004 through 2006, new home sales in the HMA increased an average
of 37 percent annually, to 700 homes sold in 2006 (Figure 7), partly because
the economy in the HMA generally expanded and net in-migration from
people displaced by Hurricane Katrina rose. The number of new home sales
subsequently
declined and averaged 570 homes sold annually during the
next 2 years as net out-migration ensued. Although nonfarm payrolls fell in
2009, increased mining and extraction of natural gas in the Haynesville Shale
natural gas field contributed to new home sales increasing 50 percent, to
Home Sales
Quick Facts
Shreveport HMA
Nation
Vacancy Rate
1.3% NA
Months of Inventory
2.1 1.4
Total Home Sales
8,275 6,505,000
1-Year Change
14% 16%
New Home Sales Price
$252,800 $416,600
1-Year Change
-3% 3%
Existing Home Sales Price
$178,600 $375,200
1-Year Change
15% 20%
Mortgage Delinquency Rate
5.4% 3.1%
Table 4. Home Sales Quick Facts in the Shreveport HMA
NA = data not available.
Notes: The vacancy rate is as of the current date; home sales and prices are for the 12 months ending June
2021; and months of inventory and mortgage delinquency data are as of June 2021. The current date is
August 1, 2021.
Sources: Vacancy rate—estimates by the analyst; months of inventory—CoreLogic, Inc.; HMA home sales
and prices—CoreLogic, Inc., with adjustments by the analyst; national home sales and prices—Zonda
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Jun-04
Jun-05
Jun-06
Jun-07
Jun-08
Jun-09
Jun-10
Jun-11
Jun-12
Jun-13
Jun-14
Jun-15
Jun-16
Jun-17
Jun-18
Jun-19
Jun-20
Jun-21
Sales Totals
Existing Home Sales New Home Sales
Source: CoreLogic, Inc.
Figure 7. 12-Month Sales Totals by Type in the Shreveport HMA
Home Sales Market 12Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
820 homes sold in
2009. New home sales continued to rise through mid-2010
before falling to 690 homes sold in 2011 as a result of the expiration of the
first-time homebuyer tax credit in 2010. As jobs declined and net out-migration
occurred, new home sales fell an average of 20 homes, or 3 percent, annually
from 2012 through 2017. As the economy in the HMA expanded in 2018 and the
higher paying manufacturing and professional and business services sectors
continued to add jobs through 2019, new home sales increased an average
of 2 percent annually, to 590 homes sold in 2019. New home sales increased
7 percent, to 630 homes sold in 2020, as interest rates fell. New home sales
began to slow and eventually decline during the first half of 2021, partly due to
input supply shortages in the housing industry. Approximately 570 new homes
were sold in the HMA during the 12 months ending June 2021, down 8 percent
from the number of homes sold during the previous 12-month period.
The sales price for a new home in the HMA fell an average of $310 annually
from 2004 through 2006, to $168,300 (Figure 8), despite increasing new
home sales. From 2007 through 2011, the average new home price increased
an average of $14,000, or 7 percent, annually, to $238,300 because economic
conditions in the HMA were generally strong during this period. As economic
conditions in the HMA weakened, the new home sales price fluctuated,
falling an average of 3 percent, to $224,100, from 2012 through 2013 before
increasing by $6,000 in 2014, when the economy improved. From 2015 through
2016, the price of a new home fell an average of $3,675 annually and then rose
5 percent, to $234,300, in 2017. When economic conditions improved in 2018,
new home sales rose, and the price of a new home increased an average of
$17,200, or 7 percent, annually, to a peak of $268,700 in 2019. The average
new home sales price fell 7 percent, to $250,600, during 2020. During the
12 months ending June 2021, the average new home sales price was $252,800,
down by $8,025 from a year earlier, and 59 percent of new homes sold were
in the $200,000-to-$299,999 sales price range (Figure 9).
35
30
25
20
15
10
5
0
$99k and
Less
$100k to
$199k
$200k to
$299k
$300k to
$399k
$400k to
$499k
$500k and
More
Share of Sales (%)
Existing Sales New Sales
Note: New and existing sales include single-family homes, townhomes, and condominium units.
Source: Zonda, with adjustments by the analyst
Figure 9. Share of Overall Sales Price Range During the 12 Months
Ending June 2021 in the Shreveport HMA
275,000
250,000
225,000
200,000
175,000
150,000
125,000
100,000
75,000
Jun-04
Jun-05
Jun-06
Jun-07
Jun-08
Jun-09
Jun-10
Jun-11
Jun-12
Jun-13
Jun-14
Jun-15
Jun-16
Jun-17
Jun-18
Jun-19
Jun-20
Jun-21
Average Sales Price ($)
New Home Sales Existing Home Sales
Source: CoreLogic, Inc.
Figure 8. 12-Month Average Sales Price by Type in the Shreveport HMA
Home Sales Market 13Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Existing Home Sales and Prices
Existing home sales, which includes resale sales, real estate owned (REO)
home sales, and short sales, increased an average of 4 percent annually,
to 3,675, from 2004 through 2006, as the economy expanded and people
relocated to the HMA following Hurricane Katrina. Existing home sales
declined to 3,600 homes sold during 2007 before increasing an average
of 880 homes, or 20 percent, annually, to 6,250 homes sold in 2010.
Existing home sales fell 8 percent in 2011 due to the expiration of the first-
time homebuyer tax credit in 2010. Although economic conditions in the
HMA generally weakened, existing home sales fluctuated and increased an
average of 120 homes, or 2 percent, annually from 2012 through 2017. From
2018 through 2020, existing home sales increased an average of 4 percent
annually, to 7,225 homes sold in 2020. Beginning in the latter part of 2020,
in response to low mortgage interest rates and rising existing home sales
prices, many homeowners in the HMA decided to “trade up” and sell their
existing homes to buy a larger home. During the 12 months ending June 2021,
existing home sales increased, to 7,700 homes sold, up 16 percent from a
year earlier, when existing home sales fell during the second quarter of 2020
as people chose not to sell their homes because of the pandemic.
Average existing home sales price growth in the HMA followed the trend for
existing homes sold during the mid-2000s. From 2004 through 2006, the
average existing home sales price increased 8 percent annually, to $113,300,
before falling to $113,200 in 2007. As sales of existing homes increased
from 2008 through 2010, the average sales price of an existing home in the
HMA increased an average of $6,425, or 5 percent, annually, to $132,500
before falling slightly to $131,500 in 2011. Mirroring the increase in existing
home sales, from 2012 through 2019, the average price of an existing home
increased 2 percent annually, to $151,500. In 2020, the average price of an
existing home increased by $17,850, or 12 percent. During the 12 months
ending June 2021, the average price of an existing home rose to a new high
of $178,400, up 15 percent from a year earlier.
Delinquent Mortgages and REO Properties
The percentage of seriously delinquent mortgages and real estate owned (REO)
properties in the Shreveport HMA increased from 3.1 percent in April 2020 to
6.7 percent from September 2020 through December 2020 (CoreLogic, Inc.).
In June 2021, 5.4 percent of home loans in the HMA were seriously delinquent
or had transitioned into REO status, down from 5.6 percent a year earlier. By
comparison, the national percentage of seriously delinquent mortgages and
REO properties was 3.1 percent in June 2021, down from 3.6 percent a year
earlier and significantly below the peak rate of 8.6 percent in January 2010.
The share of seriously delinquent mortgages and REO properties in the HMA
during 2020 was lower than the high of 7.5 percent in January 2010 which
was caused by the national recession and foreclosure crisis that began in the
late 2000s. A portion of mortgage borrowers were hit hard by the pandemic-
induced economic downturn, and they participated in mortgage forbearance
programs which were provided for under the $2.2 trillion Coronavirus Aid,
Relief, and Economic Security (CARES) Act. There was a significant increase in
the percentage of mortgages that were 90 days or more delinquent, while the
number of foreclosures and REO properties declined as a result of the increase
in mortgage forbearances. In December 2020, the number of mortgages
90 or more days delinquent increased 161 percent year-over-year, whereas
foreclosures declined 29 percent and REO properties declined 65 percent.
Sales Construction Activity
New home construction activity, as measured by the number of single-family
homes, townhomes, and condominiums permitted, was stronger during the
2000s than during the 2010s, partly because of net in-migration that resulted
from the Hurricane Katrina disaster. From 2003 through 2006, an average of
1,675 homes were permitted annually (Figure 10); during the period, economic
conditions in the HMA improved, and net in-migration peaked. As net out-
migration occurred, sales of new homes in the HMA began to slow in 2007,
and new home construction fell an average of 26 percent annually, to a
Home Sales Market 14Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
low of 940 homes in 2008. From 2009 through
2010, new home sales rose, and new home
construction increased an average of 110
homes, or 11 percent, annually, before falling
1 percent, to 1,150 homes permitted during 2011.
Although new home sales began to decline in
2012, new home construction rose an average
of 4 percent annually, to 1,275 homes in 2014,
before falling an average of 12 percent annually,
to 980 homes in 2016. As jobs in the mining,
logging, and construction and the professional
and business services sectors increased in 2017
and the economy expanded in 2018, new home
construction in the HMA increased an average
of 7 percent annually, to 1,200 homes in 2019.
Due to pandemic-related shortages that began
in 2020, new home construction fell 15 percent,
to 1,025 homes during 2020. During the 12 months
ending July 2021, homebuilding activity rose
11 percent, to approximately 1,075 homes, from
the 970 homes during the 12 months ending
July 2020 (preliminary data).
New Home Developments
Although new homes are being built throughout
the HMA, most new home developments are
being built in the outlying areas of the cities
of Shreveport and Bossier City, and some
construction is occurring in the outer cities of
Benton, Blanchard, Haughton, and Stonewall. The
Old Towne subdivision in the city of Blanchard,
built by E & L Development, Inc., has 82 homes
planned at buildout: currently, 16 have been sold,
of which 5 homes are under construction, and 66 lots are available for sale. Homes are currently priced
between $260,000 for a three-bedroom, two-bathroom home and $380,000 for a four-bedroom, three-
bathroom, and media room home. The Trinity Bluff subdivision in north Shreveport, built by DSLD Homes,
is currently under construction, with 23 homes underway and 4 homes completed; 82 homes are planned
at buildout. Base prices range from $252,990 for a three-bedroom, two-bathroom, 1,848-square-foot home
to $318,990 for a four-bedroom, two-and-one-half-bathroom, 2,941-square-foot home.
Forecast
During the next 3 years, demand is expected for an estimated 3,300 homes in the Shreveport HMA (Table 5). The
310 homes currently under construction will satisfy a portion of the estimated demand during the forecast period.
Demand is expected to be highest during the first year of the forecast period, when job growth is greatest.
2,000
1,500
1,000
500
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
12ME Jul 2020
12ME Jul 2021
Single-Family Homes/Townhomes
Single-Family Homes/Townhomes 12ME
Condominiums
Condominiums 12ME
Figure 10. Annual Sales Permitting Activity in the Shreveport HMA
12ME = 12 months ending.
Sources: U.S. Census Bureau, Building Permits Survey; 2000–2020 final data and estimates by the analyst; past 24 months of data—preliminary
data and estimates by the analyst
Table 5. Demand for New Sales Units in the Shreveport HMA During the Forecast Period
Sales Units
Demand 3,300 Units
Under Construction 310 Units
Note: The forecast period is from August 1, 2021, to August 1, 2024.
Source: Estimates by the analyst
Rental Market 15Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Rental Market
Market Conditions: Balanced
The apartment market has tightened since the second quarter of
2016, when the vacancy rate peaked at 8.3 percent and conditions
were soft.
Current Conditions and Recent Trends
Rental housing market conditions in the Shreveport HMA are currently
balanced, with an estimated rental vacancy rate of 7.0 percent, down from
8.0 percent in 2010, when the market was slightly soft (Table 6). In the HMA,
47 percent of the occupied rental stock is single-family rental homes, and
29 percent of occupied rental stock is in structures with five or more units,
typically apartments (2015–19 American Community Survey 5-year data). The
vacancy rates for single-family rental homes in the HMA are often lower and
more stable than apartment vacancy rates. During the second quarter of
2021, the apartment market in the HMA was slightly tight, with a vacancy rate
of 4.5 percent (Figure 11), down from 6.4 percent during the same period
a year earlier (RealPage, Inc.).
Single-Family Rental Market
Approximately 92 percent of the occupied single-family rental stock in the
HMA is detached single-family homes, and 8 percent is attached homes.
Since 2013, the monthly average single-family vacancy rate for professionally
managed detached units has fluctuated by less than 1 percentage point,
ranging from 3.8 to 4.5 percent (CoreLogic, Inc.). The average single-family
vacancy rate for a professionally managed detached unit was 4.4 percent
in July 2021, down 0.1 percentage point from July 2020, and the average
rent for a single-family home decreased 6 percent, to $0.83 per square foot
compared with a year earlier. In July 2021, rents for professionally managed
detached units averaged $968, $1,047, $1,255, and $1,599 for one-, two-,
three-, and four-bedroom homes, respectively.
Rental Market
Quick Facts
2010 (%) Current (%)
Rental Vacancy Rate
8.0 7.0
2006–10 (%) 2015–19 (%)
Occupied Rental Units by Structure
Single-Family Attached & Detached
43.5 47.2
Multifamily (2–4 Units)
14.1 14.1
Multifamily (5+ Units)
33.1 29.3
Other (Including Mobile Homes)
9.3 9.5
Apartment
Market
Quick Facts
Q2 2021 YoY Change
Apartment Vacancy Rate
4.5 -1.9
Average Rent
$872 8%
Table 6. Rental and Apartment Market Quick Facts in the Shreveport HMA
Average Monthly Rent ($) Vacancy Rate (%)
9.0
8.0
7.0
6.0
5.0
4.0
3.0
2.0
1.0
950
900
850
800
750
700
650
600
550
Q2 2005
Q2 2006
Q2 2007
Q2 2008
Q2 2009
Q2 2010
Q2 2011
Q2 2012
Q2 2013
Q2 2014
Q2 2015
Q2 2016
Q2 2017
Q2 2018
Q2 2019
Q2 2020
Q2 2021
Vacancy Rate (%)
Average Monthly Rent ($)
Figure 11. Apartment Rents and Vacancy Rates in the Shreveport HMA
Q2 = second quarter. YoY = year-over-year.
Notes: The current date is August 1, 2021. Percentages may not add to 100 due to rounding.
Sources: 2010 vacancy rate—2010 Census; current vacancy rate—estimate by the analyst; occupied
rental units by structure—2006–10 and 2015–19 American Community Survey 5-year data; apartment
data—RealPage, Inc.
Q2 = second quarter.
Source: RealPage, Inc.
Rental Market 16Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Apartment Market
Apartment vacancy rates have fluctuated since 2005, when the impact of
displaced residents from New Orleans, the result of Hurricane Katrina, was
felt throughout the HMA. The average apartment vacancy rate increased
1.9 percentage points, to 6.5 percent, from the second quarter of 2005
through the second quarter of 2006 as evacuees from the Hurricane Katrina
disaster returned to the New Orleans MSA in 2006. As economic conditions
in the HMA continued to strengthen, the apartment vacancy rate fell to
4.2 percent in 2007 before increasing from 2008 through 2009, partly
because new apartment units entered the market. Increased economic
activity, partly related to Haynesville Shale natural gas production, resulted
in the market tightening, and the apartment vacancy rate fell to 1.9 percent
during the second quarter of 2010. As production in the Haynesville Shale
natural gas field began to slow, net in-migration to the HMA slowed as well,
and the apartment vacancy rate began to rise in 2011. In 2012, economic
conditions began to weaken, and net out-migration resumed, but new
apartment construction continued. The apartment vacancy rate rose from
4.5 percent during the second quarter of 2012 to a peak of 8.3 percent
during the second quarter of 2016. The apartment vacancy rate remained
elevated through the second quarter of 2018 because the new apartment
units built earlier in the decade had not been absorbed. As apartment units
were absorbed, the apartment vacancy rate fell 1.4 percentage points from
2019 through the second quarter of 2021.
The average apartment rent in the HMA has trended upward, with less
severe fluctuation than the apartment vacancy rate since 2005. The average
apartment rent increased an average of 3 percent annually from the second
quarter of 2005 through the second quarter of 2011, to $743, before falling
2 percent during the second quarter of 2012, as the rental market began to
soften. As new apartment units offered at higher rents entered the market
in the HMA, the average apartment rent increased an average of 2 percent
annually from the second quarter of 2013 through the second quarter of
2017, to $784. In response to slow absorption of apartment units in the HMA
since 2013, the average apartment rent fell by 1 percent, to $776, during the
second quarter of 2018. As absorption increased and vacancy rates fell, the
average apartment rent increased 5 percent through the second quarter of
2019 before increasing an average of 4 percent annually, to $872 during the
second quarter of 2021.
Market Conditions by Geography
Among the three RealPage, Inc.-defined market areas (hereafter, market
areas) in the Shreveport HMA, the Bossier City market area had the lowest
average apartment vacancy rate, at 4.4 percent, during the second quarter
of 2021, with an average rent of $913. By contrast, the highest vacancy rate,
at 4.6 percent, was in the West Shreveport/De Soto market area; the average
rent in the market area during the second quarter of 2021 was $762. Since
the second quarter of 2020, the East Shreveport market area had the greatest
average rent growth, increasing by $87, or 10 percent, to $937 during the
second quarter of 2021, while the vacancy rate fell 2 percentage points,
to 4.5 percent.
Rental Construction
Rental construction activity in the HMA, as measured by the number of
rental units permitted, was lower during the 2010s than during the 2000s,
partly because of net out-migration and an extended period of increasing
apartment vacancy rates. From 2000 through 2004, an average of 380 units
were permitted each year before increasing by 720 to 1,050 units permitted
in 2005 (Figure 12) as builders responded to the high rate of net in-migration
as a result of the Hurricane Katrina disaster. As evacuees returned to the
New Orleans MSA, rental construction activity in the HMA declined, averaging
560 units annually from 2006 through 2008. In response to the economic
contraction in the HMA, rental construction activity declined in 2009, to
350 units permitted, and declined further, to 220 units permitted, in 2010.
Builders responded to the falling apartment vacancy rate in the HMA from
2009 through 2010 by increasing production. Beginning in 2011, rental
construction activity increased an average of 22 percent annually, to the
Rental Market 17Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
decade high of 480 units in 2014. Subsequently,
rental construction activity slowed in the
HMA during 2015 and 2016, to an average of
140 units annually, but the apartment market
became oversaturated with new units because
net out-migration from the HMA rose. No rental
construction activity occurred from 2017 through
2019, as builders responded to the high vacancy
rates during the mid-2010s. Following 3 years
of no production, construction activity resumed
during 2020, with 170 units permitted.
As a result of a Choice Neighborhood Planning
Grant from the U.S. Department of Housing and
Urban Development, two affordable apartment
developments were built during the mid-2010s: the
40-unit Renaissance at Allendale and the 12-unit
Cora M. Allen Townhomes. Stemming from the
original plan, additional apartment developments
are underway and planned. Currently under
construction, the 68-unit The Heritage at Bayou
Grande I and the 68-unit The Heritage at Bayou
Grande II affordable apartment developments are
expected to be completed by the end of 2021.
Both developments will offer 10 market-rate units,
17 affordable units, and 41 units covered by project-
based vouchers. The larger 122-unit The Heritage
at Bayou Grande III apartment development is in
planning and is anticipated to be completed during
2023. The Heritage at Bayou Grande III is expected
to offer 30 market-rate units, 34 affordable units,
and 58 units covered by project-based vouchers.
Forecast
During the forecast period, demand is estimated for 290 new rental units in the Shreveport HMA (Table 7).
Demand is expected to increase in the second and third years of the forecast period as homeownership
in the HMA moderates. The 170 units currently under construction are expected to satisfy demand through
the second year of the forecast period. The 122-unit The Heritage at Bayou Grande III is expected to be
completed during 2023 and will satisfy the remainder of the demand for rental units in the HMA.
Rental Units
Demand 290 Units
Under Construction 170 Units
Table 7. Demand for New Rental Units in the Shreveport HMA During the Forecast Period
Note: The forecast period is August 1, 2021, to August 1, 2024.
Source: Estimates by the analyst
1,100
1,000
900
800
700
600
500
400
300
200
100
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
12ME Jul 2020
12ME Jul 2021
Rental Units Rental Units 12ME
Figure 12. Annual Rental Permitting Activity in the Shreveport HMA
12ME = 12 months ending.
Note: Includes apartments and units intended for rental occupancy.
Sources: U.S. Census Bureau, Building Permits Survey; 2000–2020 final data and estimates by the analyst; past 24 months of data—preliminary
data and estimates by the analyst
Terminology Definitions and Notes 18Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Terminology Definitions and Notes
A. Definitions
Building Permits
Building permits do not necessarily reflect all residential building activity that occurs in an HMA. Some units are constructed or created without a building
permit or are issued a different type of building permit. For example, some units classified as commercial structures are not reflected in the residential building
permits. As a result, the analyst, through diligent fieldwork, makes an estimate of this additional construction activity. Some of these estimates are included in
the discussions of single-family and multifamily building permits.
Demand
The demand estimates in the analysis are not a forecast of building activity. They are the estimates of the total housing production needed to achieve a balanced
market at the end of the 3-year forecast period given conditions on the as-of date of the analysis, growth, losses, and excess vacancies. The estimates do not
account for units currently under construction or units in the development pipeline.
Existing Home
Sales
Include resale sales, short sales, and REO sales.
Forecast Period 8/1/2021–8/1/2024—Estimates by the analyst.
Home Sales/
Home Sales
Prices
Includes single-family, townhome, and condominium sales.
Net Natural
Change
Resident births minus resident deaths.
Rental Market/
Rental Vacancy
Rate
Includes apartments and other rental units, such as single-family, multifamily, and mobile homes.
Terminology Definitions and Notes 19Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Resales
These are home closings that have no ties to either new home closings (builders) or foreclosures. They are homes that were previously constructed and sold to
an unaffiliated third party.
Seriously
Delinquent
Mortgages
Mortgages 90+ days delinquent or in foreclosure.
B. Notes on Geography
1.
The metropolitan statistical area definition noted in this report is based on the delineations established by the Office of Management and Budget (OMB) in the
OMB Bulletin dated April 10, 2018.
2. Urbanized areas are defined using the U.S. Census Bureau 2010 Census Urban and Rural Classification and the Urban Area Criteria.
C. Additional Notes
1.
This analysis has been prepared for the assistance and guidance of HUD in its operations. The factual information, findings, and conclusions may also be
useful to builders, mortgagees, and others concerned with local housing market conditions and trends. The analysis does not purport to make determinations
regarding the acceptability of any mortgage insurance proposals that may be under consideration by the Department.
2.
The factual framework for this analysis follows the guidelines and methods developed by the Economic and Market Analysis Division within HUD. The analysis
and findings are as thorough and current as possible based on information available on the as-of date from local and national sources. As such, findings or
conclusions may be modified by subsequent developments. HUD expresses its appreciation to those industry sources and state and local government officials
who provided data and information on local economic and housing market conditions.
D. Photo/Map Credits
Cover Photo Adobe Stock
Terminology Definitions and Notes 20Shreveport-Bossier City, Louisiana Comprehensive Housing Market Analysis as of August 1, 2021
Comprehensive Housing Market Analysis Shreveport-Bossier City, Louisiana
U.S. Department of Housing and Urban Development, Office of Policy Development and Research
Contact Information
Nancy Smith, Economist
Fort Worth HUD Regional Office
817–978–9415
nancy[email protected]
