Is calling the api in a report template 'bad form'?

Question

Just a small question - but I've been asked to add 'Address Location Type' as a column in a report. At least as of our civiCRM version (4.7.13) the address seems to me to only contain the location type ID - which doesn't make much sense to users.

I wasn't able to readily find a pseudoconstant function available to handle location type id -> location type name like there are for things like State/Province and Membership Type... so I have it working with the api as below:

if (array_key_exists('civicrm_address_location_type_id', $row)) {
        if ($value = $row['civicrm_address_location_type_id']) {
          $rows[$rowNum]['civicrm_address_location_type_id'] = civicrm_api3('LocationType', 'Getvalue', array('id' => $value, 'return' => 'name'));
        }
        $entryFound = TRUE;
      }

My question is out of curiosity because I haven't run across an api call in alterDisplay like this (maybe it exists and it's fine) but... is there a better way to do this / is it bad form to get at the location type name this way?

EDIT: Here is what i've ended up with (working) based on Coleman's answer below:

        //Inside alterDisplay but outside foreach($rows) loop...

$results = civicrm_api3('LocationType', 'get', array('sequential' => 1, 'return' => array("name")));
$locationTypes = array();
  foreach ($results['values'] as $item) {
    $locationTypes[$item['id']]=$item['name'];
  };

        //now for each row it's just...

if (array_key_exists('civicrm_address_location_type_id', $row)) {
  if ($value = $row['civicrm_address_location_type_id']) {
    $rows[$rowNum]['civicrm_address_location_type_id'] = $locationTypes[$value];
  }
  $entryFound = TRUE;
}

EDIT 2: Even better version without 'sequential' or the foreach loop based on Coleman's comment below.

            //Inside alterDisplay but outside foreach($rows) loop...

    $results = civicrm_api3('LocationType', 'get', array('return' => array("name")));

            //now for each row...

    if (array_key_exists('civicrm_address_location_type_id', $row)) {
      if ($value = $row['civicrm_address_location_type_id']) {
        $rows[$rowNum]['civicrm_address_location_type_id'] = $results['values'][$value]['name'];
      }
      $entryFound = TRUE;
    }

Answer 1

This will result in one api call per row, which can add up to a lot of queries on the db.

A lighter-weight solution would be do do a single api call before the loop to look up all location types and store them in a local variable, then you can use array_search or similar for each row to get the proper value.