The Louisiana capital offers a strong economy and lots of history
Discover Baton Rouge's Real Estate
Baton Rouge is the capital of the state of Louisiana and its second largest city. Located on the Mississippi River just a short drive north of New Orleans, it is a historic city with grand southern homes and a laid back pace of life. Thanks to the fact that many residents are employed in government, industry, healthcare and education, the local economy is very strong and highly resistant to recessions. It is also highly affordable and offers a lot of opportunities for adventurous real estate investors.
Culture, History, and Business
Baton Rouge was founded as a French military and trading post in 1721 and the town itself was incorporated in 1817. The city came under American control in 1803 following the Louisiana Purchase, which led to an influx of migration to the city. In 1846, it was chosen to be the capital of the new state of Louisiana. The Civil War brought the local economy to a halt and the state capital was briefly moved to New Orleans after the war before returning to Baton Rouge, where it has remained ever since.
Today, Baton Rouge is a major port and industrial center. It is home to thriving petrochemical and medical research industries, with a vast oil refinery and a number of major research hospitals. The state government and universities are also major employers, which has helped contribute to a very strong local economy. The city regularly ranks as one of the best places in the country for new businesses.
Real Estate Appeal
Baton Rouge’s real estate appeal lies in a number of areas. For one, the cost of housing in the city is well below the national average, yet it has also been rising steadily over the past decade. Taxes are also among the lowest in the country. As a result, the cost of entering the Baton Rouge real estate market is very low, while the rewards are potentially considerable.
Secondly, Baton Rouge is home to two major public universities and many other private institutions of higher education. The two universities alone have a combined student population of nearly 40,000 people, which means Baton Rouge is an excellent city for investors looking to rent to students. Medium-term rentals that cater to students tend to provide a highly reliable form of income and are less likely to be impacted by downturns in the economy compared to other types of real estate investments.
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