Opelousas is the cheapest of the four markets and the weakest. The ACS 2020–2024 median owner-occupied value is $105,100 and Zillow's ZHVI for the micropolitan area was $129,526 in January 2026, down 9.4% year over year — the steepest decline in this group. Median household income is $32,964 with a poverty rate of 37.4%, and the city has lost about 5% of population since the 2020 census. The renter pool is 2,965 households, the smallest here. Our 2026 verdict is hold, and we would not add to an existing position.
Opelousas is the cheapest of the four markets and the weakest. The ACS 2020–2024 median owner-occupied value is $105,100 and Zillow's ZHVI for the micropolitan area was $129,526 in January 2026, down 9.4% year over year — the steepest decline in this group. Median household income is $32,964 with a poverty rate of 37.4%, and the city has lost about 5% of population since the 2020 census. The renter pool is 2,965 households, the smallest here. Our 2026 verdict is hold, and we would not add to an existing position.
St. Landry Parish · Opelousas micropolitan area (Lafayette–New Iberia–Opelousas combined statistical area)
The city has 7,493 housing units and 6,278 households, of which 2,965 rent. At the $717 median gross rent, annual gross rent across the city is roughly $25 million before vacancy — small enough that one institution entering or leaving would reset the market. St. Landry Parish authorised 153 new housing units by building permit in 2025 against 139 in 2024, and Realtor.com showed 264 homes for sale and 21 rentals in Opelousas in March 2026.
The price signal is unambiguous. Zillow's smoothed ZHVI for ZIP 70570 was $127,482 in February 2026, down 10.2% year over year, and the micropolitan series was down 9.4%. Redfin's median sale price of $99,750 with a 91.4% sale-to-list ratio tells you where deals actually clear: roughly 8% under asking, and often further. Asking prices on Realtor.com sit near $185,000 because the listing mix skews toward acreage and newer product outside the city core.
Turnover is the slowest of the four. Realtor.com recorded a median 110 days on market in March 2026, up 24% year over year. HUD cut the ZIP 70570 two-bedroom Small Area Fair Market Rent 8.6%, from $930 in FY2025 to $850 in FY2026 — the federal read on this rental market is that it is softening, not tightening.
| Metric | Value | Basis |
|---|---|---|
| Population | 15,495 | Census / estimates, 2024 |
| Households | 6,278 | ACS |
| Housing units | 7,493 | ACS |
| Owner-occupied | 52.8% | ACS tenure split |
| Renter-occupied | 47.2% | ACS tenure split |
| Median home value | $105,100 | ACS / ZHVI |
| Median list price | $185,000 | Listing data |
| Median price / sq ft | $105 | Listing data |
| Median rent / month | $717 | ACS gross rent / ZORI |
| Median household income | $32,964 | ACS |
| Average days on market | 110 | Listing data |
| Vacancy rate | 16.2% | ACS / HUD |
| Management fee band | 9%-12% | Local market |
Nearly half of occupied units rent, and the tenant base is income-constrained: median household income of $32,964 against a $717 median rent puts rent at about 26% of median income, but 37.4% of residents are below the poverty line and unemployment runs in the low double digits. Professional management penetration is the lowest in this group, we estimate about 12%. Institutional single-family ownership is effectively absent, under 1%.
The gap is not that landlords lack a manager — it is that the economics do not support one. At a 9%–12% fee on a $717 median rent, a door generates roughly $860 a year in fees. No standalone Opelousas operation reaches scale; the only viable model is a route that covers Opelousas, Eunice, Ville Platte, and Lafayette together.
Beyond Realty does not cover this market today. If we ever do, it will be as an extension of an Acadiana route with bilingual leasing and Section 8 administration, because voucher paperwork and habitability compliance are where a small landlord here actually loses money.
Local supply is thin and mostly brokerage-led. Devillier Property Solutions is based in Opelousas and markets residential, multi-family, and HOA management across St. Landry and Lafayette Parishes. Southern Charm Realty & Property Management and LATTER & BLUM | COMPASS both operate from South Union Street, and RE/MAX Excellence runs an office on Creswell Lane.
On the sales side, Century 21 DCG/Aguillard Realty and Coldwell Banker Trahan Real Estate Group dominate the visible listing inventory in ZIP 70570, with Keaty Real Estate, Robins Real Estate, and Real Broker appearing regularly on MLS. None of these firms is a dedicated single-family rental operator with a hundred-plus door book.
Concentration is negligible and competition intensity is low, but the addressable fee pool is smaller still. The practical competitive threat is not another manager — it is the owner-operator who lives three streets away, charges nothing, and collects in cash. Competing on service alone will not win here; competing on compliance and collections will.
Base case for 2027–2029: continued nominal price decline of 1%–3% a year early in the period, flattening by 2029, with rent growth of 1%–2%. Population has fallen from 15,767 in the 2020 census to about 15,000 by 2026 and continues near -0.9% a year. With 16.2% of housing units vacant and no meaningful household formation, landlords compete for the same tenant pool rather than for new arrivals.
The binding constraint is tenant payment capacity, not supply. Median household income is $32,964 and the poverty rate is 37.4%. A three-bedroom at $950 a month requires roughly $38,000 a year to stay under the 30% burden threshold — above the local median. That is why HUD lowered the area FMR and why concessions, not increases, are the realistic lever.
Upside scenario: I-49 corridor logistics and food manufacturing (Ventura Foods, Tony Chachere's, Savoie's) add stable payrolls; Evangeline Downs and the parish's healthcare system hold employment; and prices bottom by 2028 with 2%–3% rent growth. Even then, that is a stabilisation, not a growth market.
Downside scenario: a further HUD FMR cut, a hospital or casino payroll contraction, and continued out-migration drive ZHVI below $115,000 by 2029 with flat rents and rising concessions. In that path, gross yields near 8% do not survive collection losses, turnover, and a 110-day resale.
Hold, and do not add. Opelousas fails on three of the four things that matter: population direction, price direction, and tenant depth. It passes only on entry price, and entry price in a market where ZHVI is falling 9%–10% a year is not an entry price — it is a declining asset with a yield attached.
If a client already owns here, the right action is to hold through the cycle, keep the units leased, and take cash flow rather than chase value. Reinvest only in turnover capex that protects the rent: roof, HVAC, and plumbing. Do not fund a value-add programme. Do not refinance to buy more here.
We would revisit only if three things change: HUD raises the 70570 two-bedroom SAFMR in consecutive fiscal years; St. Landry Parish population estimates stop declining for two consecutive years; and median days on market falls below 90. None of these is visible in the 2026 data.
Hard no-list: no purchases below $60,000; no vacant acquisitions; no properties with roof age over 12 years; no landlord-financed deals to buyers with unverified income; no portfolio purchases above five units, because the exit has no buyer.
Figures are compiled from public sources and our own management portfolio and are general information, not legal, tax or investment advice. Confirm any figure against current data before you transact.
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