The housing market in Lalam is heavily influenced by NRI investments. The landscape is dotted with large, multi-story, concrete (RCC) independent villas showcasing modern, sometimes opulent, architectural styles.
Traditional Kerala-style homes with sloping terracotta-tiled roofs, central courtyards (nalukettu), and wooden carvings still exist, though many have been modernized. The cost of land is relatively high due to population density and the influx of foreign currency. Rental markets are small and generally cater to migrant laborers from other Indian states who have come to work in construction and agriculture.