Alexandria’s Zillow ZHVI typical city home value is $148,190, while ZORI typical observed market rent is $1,157 a month. That pairing implies a 9.4% gross yield before every operating cost, financing, vacancy and capital work; it is not a net return. The home value is 3.1x ACS median household income, and annual ZORI equals 29.5% of that income. These ratios frame entry price and broad affordability, but household capacity and property cash flow can differ from citywide typicals.
Alexandria has 21,100 housing units; 48.1% of occupied units are renter-occupied. ACS reports a $183,700 median value for surveyed owner-occupied homes and $931 median gross rent for renter-occupied housing, including selected utilities. Those measures cover occupied housing and differ in method and period from Zillow’s typical home value and observed market rent, so their gaps should not be read as appreciation, discounts or rent upside. Tenure does not show demand for a specific unit.
Among measured renters, 58.5% are rent-burdened. Single-family homes are 71.3% of units, versus 4.9% in large multifamily buildings. The citywide vacancy rate is 18.3%; 609 vacant units were for rent, only 15.7% of all vacant units, while other vacancy reasons have different market meaning. ACS population is 44,060, down 6.3% between overlapping five-year vintages; this is not annualized and may reflect boundary changes. Median household income is $47,113, poverty is 27.0%, and unemployment is 5.2%. These surveys do not measure investment inventory, leasing speed or causation.
Rapides Parish county listings show a 74-day median time on market and a 16.0% price-reduced share, evidence of county negotiating conditions rather than Alexandria-only liquidity. The Alexandria metro job measure was down 0.1%; separately, the metro housing measures show 2.7 months of supply and price drops on 32.5% of listings. Each metro measure is broader than the city and uses its own denominator. The national Freddie Mac mortgage rate was 6.66%, a financing benchmark rather than a quote for any borrower or property.
Underwriting should not treat gross yield as spendable cash flow or citywide vacancy as a lease-up estimate. For a property, verify contract rent and utilities; taxes, insurance and hazard exclusions; occupancy and competing listings; condition and reserves; financing; title, zoning and rental rules; and management, turnover and collection costs. Model net operating income and debt service under conservative vacancy and repair assumptions, then inspect the asset and validate leases.