Oil City, LA—71061
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Oil City, LA
As of Oct '25, the median home price in Oil City, LA is $94,000, with a year-over-year change of -13.2%. This indicates that home prices in Oil City, LA are decreasing. According to Zillow, the 1-year price projection is -5.5%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $94,000 | -13.2% |
| Single Family | $94,000 | -12.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $107,000 | -10.8% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Oil City, LA
Oil City, LA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,200 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,200 | $1,200 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Oil City, LA
As of Oct '25, Realtor.com reports that the median days on market for a home in Oil City, LA is 124. This is a decrease of -39.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $498,000 | 4.0% |
Listing Count | 7 | 77.0% |
| Listings as % of Homes | 0.3% | 77.0% |
Days on Market | 124 | -39.0% |
Demographics — Oil City, LA
As of the latest ACS Survey released in 2023, Oil City, LA has a population of 1,830, which has increased by 2.7% over the past 5 years. Oil City, LA is a popular place for families, as children make up 27.5% of the population. The area has a poorly educated workforce, with 5.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,830 | 2.7% |
% Under 18 | 27.5% | 21.1% |
% Seniors | 19.4% | 64.4% |
% WFH | 7.7% | 148.4% |
% w/ College Degree | 5.0% | -60.6% |
As of the latest ACS Survey released in 2023, Oil City, LA is a predominantly white area, with 63.4% of the population identifying as white. The white population has shrunk by 9.2% in the last 5 years. The second most common race or ethnicity in Oil City, LA is black, making up 23.1% of the population. Foreign-born residents account for 2.0% of the population in Oil City, LA, and this percentage has increased by 100.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 63.4% | -9.2% |
% Black | 23.1% | -7.6% |
% Hispanic | 2.4% | -73.9% |
% Asian | 0.6% | ∞% |
% Foreign Born | 2.0% | 100.0% |
Mortgage and Risk — Oil City, LA
According to HUD data as of 2023, there were 35 mortgage originations in Oil City, LA, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 82.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Oil City, LA. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 35 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 0.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Oil City, LA
Oil City, LA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 79 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $840 |
| 2 Bedroom | N/A | N/A | $970 |
| 3 Bedroom | $30 | $1,200 | $1,230 |
| 4 Bedroom | N/A | N/A | $1,340 |
Affordability — Oil City, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $94,000 |
| Median Household Income | $31,200 |