Oil City, LA 71061 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Oil City, LA—71061

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$114,000

8.1% YoY Growth

Household Income

$31,200

16.2% YoY Growth

Days on Market

11.0% Longer YoY

Home Price Forecast

-0.9%

Median Rent

$1,200

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$1,200

N/A

Home Price Trends — Oil City, LA

As of May '26, the median home price in Oil City, LA is $114,000, with a year-over-year change of -8.1%. This indicates that home prices in Oil City, LA are decreasing. According to Zillow, the 1-year price projection is -0.9%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$114,000	-8.1%
Single Family	$114,000	-5.8%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

0.8%

1 Bedroom

8.4%

2 Bedrooms

46.6%

3 Bedrooms

29.2%

4 Bedrooms

14.9%

Property Listings — Oil City, LA

As of May '26, Realtor.com reports that the median days on market for a home in Oil City, LA is 75. This is a increase of 11.0% from last year, suggesting that homes are sitting on the market longer 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	$560,000	53.0%
Listing Count	9	93.0%
Listings as % of Homes	0.3%	93.0%
Days on Market	75	11.0%

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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%

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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%

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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%

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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

Oil City, LA—71061

Key Metrics at a Glance

Home Price Trends — Oil City, LA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Oil City, LA

% of Rental Stock

Property Listings — Oil City, LA

Demographics — Oil City, LA

Race and Ethnicity

Mortgage and Risk — Oil City, LA

Mortgages

Rentals and Section 8 — Oil City, LA

Section 8 Market Size

Section 8 Opportunity

Affordability — Oil City, LA

Home Price to Income Ratio

Oil City, LA — ZIP Code Boundary Map

Nearby ZIP Codes

Vivian, LA

Mooringsport, LA

Belcher, LA

Hosston, LA

Gilliam, LA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.2
Median Home Price	$114,000
Median Household Income	$31,200

Oil City, LA—71061

Key Metrics at a Glance

Home Price Trends — Oil City, LA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Oil City, LA

% of Rental Stock

Property Listings — Oil City, LA

Demographics — Oil City, LA

Race and Ethnicity

Mortgage and Risk — Oil City, LA

Mortgages

Rentals and Section 8 — Oil City, LA

Section 8 Market Size

Section 8 Opportunity

Affordability — Oil City, LA

Home Price to Income Ratio

Oil City, LA — ZIP Code Boundary Map

Nearby ZIP Codes

Vivian, LA

Mooringsport, LA

Belcher, LA

Hosston, LA

Gilliam, LA

Frequently Asked Questions

What is the average home price in Oil City, LA 71061?

How have home prices in Oil City, LA 71061 changed over the past year?

What is the home price projection for Oil City, LA 71061?

What are the demographics of Oil City, LA 71061?

How long does it take homes to sell in Oil City, LA 71061?

What is the average rent price in Oil City, LA 71061?