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SpaceX Starbase Louisiana plan draws investors to nearby land
Realtors say land prices near Pecan Island have tripled as investors prepare for demand from RV parks and other temporary housing for incoming workers.
HousingWire reports that local Realtors expect a proposed SpaceX Starbase Louisiana project to boost housing demand in Vermilion Parish, where the planned development centers on marsh land near Pecan Island. The project is billed at $100 billion and covers roughly 130,000 acres, including a large buffer zone around launch pads.
The Starbase plan is expected to create between 5,000 and 30,000 construction jobs at peak, with many roles later scaling toward thousands of permanent operations, engineering, technician, and support jobs. HousingWire also reports that several of those permanent positions are expected to pay $90,000-plus, a notable shift for a region long tied to oil and gas.
Realtors cited by HousingWire said investor activity is already visible, with buyers purchasing land for RV parks and rentals near the launch area. One agent said land prices have roughly tripled, while others described interest concentrated on temporary housing closer to the site, as permanent workers are expected to settle about an hour away in Lafayette.
HousingWire Data points to a buyer-friendly residential backdrop in the Lafayette metro, including 1,077 active listings, a $274,900 median list price, 139 days on market on average, and inventory of about 4 months. Nearly 48% of listings have taken a price cut, and new listings are coming in lower at about $256,000.