Village of Folsom, LA

Table 25: Trends for Dwelling Units
Change in
Household
Change in
Household
Change in
Number of
Year
Size
Population Dwelling Units
1990-2000 -2.6% +26.3% +17.5%
2000-2010 -3.8% +14.7% +18.0%
2010-2015 -1.2% +5.3% +8.4%
Data Sources: U.S. Census Bureau (1990, 2000), ESRI Forecasts
(2010, 2015)
Prepared by Villavaso & Associates, LLA (August 2010)
The fact that the growth in the number of dwelling units in Folsom
has outpaced the growth in household population over the past
decade suggests that the housing market in Folsom is robust and
meets the demand for new dwellings. Given this established
demand, affordability becomes a consideration. As the Village
maintains a steady increase in population, there will be a
corresponding increase in the demand for affordable housing for
families. Moreover, with a projected decrease in the amount of
rental housing available, trends indicate that there will be a
shortage of rental units to meet the demand for housing for
families that cannot afford to purchase homes.
In 2008 St. Tammany Parish began development of a 5 year
consolidated plan to create a unified vision for housing and
community development. This planning process led to the
development of the St. Tammany Parish Consolidated Plan, 2008-
2012. This plan outlines many of the issues facing the Parish and on
a smaller scale the Village of Folsom as well. The following
provides an overview of housing needs as outlined in the
Consolidated Plan:
Village of Folsom, LA
Comprehensive Master Plan
The construction of single-family housing continues to play
a significant role in the St. Tammany Parish economy, even
though construction has slowed down since its peak in
2005-2006.
The median price of housing sold in St. Tammany Parish
(2008) approached $250,000, with west St. Tammany
prices significantly higher than those in the eastern portion
of the Parish.
With typical sales prices of $129/sf and increasing, and fair
market rents 40% higher than before Hurricane Katrina,
there is a growing need for affordable housing.
Compared with the State average of 32% rental housing,
18% of St. Tammany Parish and a projected 13% of all
property in Folsom is available for rental.
There is a significant portion (8%) of the housing stock in
the Parish that is mobile homes, which may or may not
meet current building and housing codes.
An affordable housing needs assessment prepared in 2007 by a
coalition of St. Tammany Parish organizations concluded that an
estimated 11,000 units of affordable housing will be needed for
low- to moderate-income households in the Parish by 2010. The
report did not specifically recommend how to address these
housing needs, however it did note that it is critical for the Parish
and each of the incorporated communities to address affordable
housing collaboratively. The 2008-2012 St. Tammany Parish
Consolidated Plan identifies the following as barriers to affordable
housing, which are relevant to the Village of Folsom:
Strict zoning regulations within minimum lot sizes.
Post-Katrina supply and demand dynamics that have
greatly increased the prices of real estate in the Parish.
Increasing costs of labor, material and fuel that have
increased housing prices.
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