New Orleans, LA housing market
Typical home value
$242K
▼ 1.5% 1 yr
Typical rent
$1,633/mo
▲ 2.1% 1 yr
Gross rent yield
8.1%
U.S. 6.3%
5-year home value change
−12%
U.S. +20%
Key takeaways
- 1The typical home in New Orleans is worth $241,895, down 1.5% over the past year and down 12% over five years.
- 2Typical rent is $1,633 a month (+2.1% YoY), a gross rent yield of 8.1% (above the New Orleans, LA metro's 7.4%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,329/mo, $304 less than typical rent.
- 4Zillow forecasts the New Orleans, LA metro's home values to change −1.0% over the next 12 months.
Market temperature (New Orleans, LA metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 33/100, #389 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How New Orleans compares
| Measure | New Orleans | New Orleans, LA metro | United States |
|---|---|---|---|
| Typical home value | $241,895 | $257,067 | $366,157 |
| Home value, 1-yr change | −1.5% | +1.6% | +1.2% |
| Typical rent | $1,633 | $1,577 | $1,932 |
| Rent, 1-yr change | +2.1% | +1.7% | +2.7% |
| Gross rent yield | 8.1% | 7.4% | 6.3% |
| Price-to-rent ratio | 12.3 | 13.6 | 15.8 |
| Mortgage P&I, typical home | $1,329 | $1,413 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical New Orleans rental, pre-filled.
Rent vs buy in New Orleans
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $242K home.
Other cities in the New Orleans, LA metro
Metairie, LA
$319K home$1,459 rent
▲ 5.4% 1 yr
Slidell, LA
$223K home$1,489 rent
▼ 3.1% 1 yr
Kenner, LA
$260K home$1,595 rent
▲ 2.0% 1 yr
Covington, LA
$323K home$1,528 rent
▲ 1.6% 1 yr
Gretna, LA
$235K home$1,567 rent
▲ 0.7% 1 yr
Marrero, LA
$221K home$1,678 rent
▲ 3.3% 1 yr
Mandeville, LA
$364K home$1,617 rent
▲ 1.0% 1 yr
Harvey, LA
$228K home$1,288 rent
▲ 6.3% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.