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These days, finding an affordable place to live in the New Orleans area can be challenging. Home prices in New Orleans are now at a median cost of $308,345, higher than the Louisiana average of $235,139.
The average cost of rent is $1,334/mo in New Orleans, primarily driven by the current value of real estate in the New Orleans area. In New Orleans, 39.39% of households rent, and 46.79% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Orleans is $6,033 per month. Households that rent pay about 22.11% of their income on rent here. New Orleans’s most expensive areas are in the central regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Arabi, LA: less expensive homes
- Gretna, LA: less expensive homes
- Terrytown, LA: less expensive homes
- Chalmette, LA: less expensive homes
- Jefferson, LA: less expensive homes
- Harvey, LA: less expensive homes
- Timberlane, LA: less expensive homes
- Bridge City, LA: less expensive homes
- Westwego, LA: less expensive homes
- Metairie, LA: higher priced homes
Cities with Similar Populations
- St. Charles, MO: equally priced homes
- Staten Island, NY: higher priced homes
- St. Peters, MO: less expensive homes
- Spring Hill, FL: equally priced homes
- Sumter, SC: less expensive homes
- St. Petersburg, FL: higher priced homes
- Sterling Heights, MI: less expensive homes
- St. George, UT: higher priced homes
- Syracuse, NY: less expensive homes
- St. Cloud, MN: less expensive homes
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