New Orleans
Louisiana · Ranked #325 of 373 metros
42Moderate
💡
Housing in New Orleans costs 4.32× the median income, below the national average of 4.5×. The median home price is $264K and median rent is $1,159/month. New Orleans ranks #325 of 373 metros for affordability.
Median Home Price
🏠$264K
Need $80K income
Median Rent
🔑$1,159
Need $50K income
Housing Shortage
📉28,000
units needed
Building Permits
🔨5,500
annual
Median Income
💰$61K
Pop: 1,271,651
Rent Burden
⚠️37.0%
of renters paying >30%
Price Change (YoY)
📈+2.5%
Homeownership
🏡63.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | New Orleans | National |
|---|---|---|
| Price-to-Income Ratio | 4.32x | 6.1x |
| Rent Burden | 37.0% | 31.5% |
| Homeownership Rate | 63.0% | 65.5% |
| YoY Price Change | +2.5% | +3.5% |
| YoY Rent Change | +2% | +2.8% |
| Mortgage Denial Rate | 18.0% | 13.5% |
| Eviction Rate | 5.5% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +27.2%Since 2000: +141.2%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$964/mo
1 Bedroom$1,113/mo
2 Bedroom$1,331/mo
3 Bedroom$1,701/mo
4 Bedroom$1,996/mo
Zillow Market Data
Home Value (ZHVI)
$255K
1yr: +1.4%5yr: -1.8%
Rent (ZORI)
$1,577/mo
1yr: +0.1%5yr: +23.1%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$297K
Active Inventory
5,358
Days on Market
87
Sold Above List
9.1%
Price Drops
23.7%