News Summary
The grand re-opening of Fairmont Tower in Shreveport showcases its $20 million renovation. As rental rates rise significantly, Fairmont provides modern housing options amidst growing affordability concerns. Recent surveys indicate a 12.2% increase in rental rates for homes in the area, raising questions about housing accessibility, even as Shreveport remains more affordable compared to nearby cities.
Shreveport – Attendees gathered on May 6, 2025, for the grand re-opening of Fairmont Tower, a recently renovated residential landmark in Shreveport, Louisiana, which has undergone a significant transformation with a budget of $20 million. The event featured guided tours of staged studio and one-bedroom apartments, showcasing modern furnishings and upgrades. This re-opening comes amid rising rental rates and growing concerns over housing affordability in the area.
The Fairmont Tower’s renovation added to the backdrop of the Shreveport rental market experiencing the highest rental rate increases in Louisiana. A recent survey by Rentometer highlighted that rents for three-bedroom homes in Shreveport increased by 12.2% in the first half of 2025, a stark contrast to the 2.3% increase recorded in the same timeframe the previous year. Furthermore, Shreveport’s upward trend outpaced nearby cities such as Lafayette, which saw a 2.8% increase, and New Orleans, which reported a mere 2.3% change. Notably, Baton Rouge experienced flat rental rates.
Despite the higher percentage increases, the median rent for three-bedroom homes in Shreveport stands at $1,262. This figure remains substantially lower than that of neighboring cities, with New Orleans averaging $2,200 and Lafayette at $1,760.
Rising Costs and Affordability Concerns
Rental property owners in the region are facing escalating costs due to rising insurance and utility rates. This phenomenon has been echoed by industry leaders who report that substantial increases in utility fees and property taxes are impacting residents as well. A survey from LSU-Shreveport has indicated that 48% of renter households in Louisiana are considered cost-burdened, paying 30% or more of their gross income on housing.
The pressure on housing affordability extends nationally, as highlighted by Harvard University’s 2025 housing study, which revealed that half of all U.S. renters allocate more than 30% of their income towards housing costs. The rising rental rates in Shreveport can be attributed to an increase in housing demand combined with a limited supply, with market constraints further exacerbated by larger rental firms supplanting smaller landlords.
Current Rental Landscape
Despite the rising rent trend, the average listing prices for apartments in the Shreveport-Bossier City Metro area have remained relatively stable. In May, the average rental price was $1,123, slightly decreasing to $1,122 in June. In detail, one-bedroom apartments are listed at approximately $936, showing minimal variation from the previous month, while two-bedroom apartments are pegged at an average of $1,090.
Compared to state averages, Shreveport’s rental prices stand at slightly higher than their May figures, with one-bedroom units priced at approximately $920. Furthermore, the average rental prices in Shreveport-Bossier City continue to be 20% lower than the national average, where the average rent for a one-bedroom apartment is about $1,231.
Conclusion
While the renovation of Fairmont Tower signifies progress in residential options within Shreveport, the ongoing trends in rental pricing and affordability highlight a complex housing landscape. As the city remains one of the more affordable markets in Louisiana, residents and industry stakeholders alike continue to navigate the balance between rising rents and the demand for manageable housing options.
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Additional Resources
- Shreveport-Bossier Advocate: Home Rental Rates Are Higher
- Shreveport Times: Monthly Apartments for Rent
- Shreveport-Bossier Advocate: Property Owners Still Feel Effects of COVID Rules
- Redfin: Affordable Places to Live in Louisiana
- Money Talks News: Cities Where You Can Rent for $600 a Month or Less
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
