Considering moving to St. Tammany? I'm sure you've heard about the blue-ribbon public schools, sense of community, parks, ease of access to multiple highways, and affordability of housing. Learn why St. Tammany is the fastest growing parish in the state, and what that means for a homeowner.
Did you know that St. Tammany is the fastest growing parish in the state?
According to the 2016 U.S. Census, "About 253,602 people lived in St. Tammany Parish in 2016, up from 234,568 in 2010 and 249,968 in 2015." So where are they coming from? "The largest groups of migrants came from nearby parishes, including Jefferson, Orleans, Washington, Tangipahoa and East Baton Rouge parishes as well as Pearl River Country, Miss." states an article from NOLA.com. Sure, Katrina contributed to this increase, but the parish has continued an upward trend in migrants over the past three years.
NOLA.com suggests that families are moving to St. Tammany due to the access of new homes, wide variety of retail businesses, and commute-ability. St. Tammany holds a high retention rate as well: people come to stay.
So what does this mean for a home owner?
"According to the National Association of Realtors (NAR), the national average of home sales has increased by 0.7% since February 2016, meaning more homes are selling. Locally, in West St. Tammany Parish, the average home price for 2017 is $264,850 which is 11.6% higher than the national average." This steady increase in value would lead to a higher return on investment over time.
Mortgage interest rates continue to drop. Depending on your loan type and debt-to-income ratio, the average interest rate can be anywhere between a high 3% to a low 4%, which is lower than it was this time last year. This suggests that home ownership is getting more and more accessible for everybody, especially first-time home buyers.
In conclusion, St. Tammany parish is a great investment for your family in more ways than one. If you're interested buying or selling your home, please consider me as your real estate partner.
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