New Orleans housing market
Typical home value
$257K
▲ 1.6% 1 yr
Typical rent
$1,577/mo
▲ 1.7% 1 yr
12-month forecast
−1.0%
#517 of 546 metros
Gross rent yield
7.4%
#88 of 546 · U.S. 6.3%
Days to pending
91 days
■ 0 days 1 yr
Listings with a price cut
25%
▲ +0.4 pts 1 yr
Key takeaways
- 1The typical home is worth $257,067, up 1.6% in a year and down 7% over five years.
- 2Zillow forecasts home values falling 1.0% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,577/mo (+1.7% YoY), a 7.4% gross yield, above the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,413/mo in principal and interest, $164 less than renting.
- 5Homes go under contract in 91 days (0 days vs last year); 25% of listings have had a price cut.
Market temperature
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
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How New Orleans compares
| Measure | New Orleans | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +1.6% | +1.2% | #318 |
| Home value, 5-yr change | −7.1% | +19.7% | |
| 12-month forecast | −1.0% | +1.1% | #517 |
| Rent, 1-yr change | +1.7% | +2.7% | #435 |
| Gross rent yield | 7.4% | 6.3% | #88 |
| Price-to-rent ratio | 13.6 | 15.8 | |
| Mortgage P&I on typical home | $1,413 | $2,012 | |
| Income needed to buy | $82,503 | $100,902 | |
| Days to pending | 91 | 56 |
Cities in the New Orleans metro
10 cities with home value and rent data.
| New Orleans | $242K | ▼ 1.5% | $1,633 | ▲ 2.1% | 8.1% |
| Metairie | $319K | ▲ 5.4% | $1,459 | ▲ 0.9% | 5.5% |
| Slidell | $223K | ▼ 3.1% | $1,489 | ▲ 1.5% | 8.0% |
| Kenner | $260K | ▲ 2.0% | $1,595 | ▼ 2.8% | 7.4% |
| Covington | $323K | ▲ 1.6% | $1,528 | ▲ 1.5% | 5.7% |
| Gretna | $235K | ▲ 0.7% | $1,567 | ▲ 2.3% | 8.0% |
| Marrero | $221K | ▲ 3.3% | $1,678 | ▼ 5.0% | 9.1% |
| Mandeville | $364K | ▲ 1.0% | $1,617 | ▲ 3.9% | 5.3% |
| Harvey | $228K | ▲ 6.3% | $1,288 | ▲ 5.5% | 6.8% |
| Chalmette | $215K | ▲ 3.0% | $1,404 | ▲ 4.5% | 7.8% |
Run the numbers
Rental property calculator
Cash flow on a typical New Orleans rental ($257K, $1,577/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical New Orleans home.
Rent vs buy
Is it cheaper to rent or buy in New Orleans?
Other Louisiana metros
Baton Rouge, LA
$246K home$1,366 rent6.7% yield
▲ 2.7% 1 yr
Lafayette, LA
$200K home$1,385 rent8.3% yield
▲ 2.8% 1 yr
Shreveport, LA
$183K home$1,282 rent8.4% yield
▲ 3.8% 1 yr
Lake Charles, LA
$202K home$1,358 rent8.1% yield
▲ 2.3% 1 yr
Houma, LA
$181K home$1,302 rent8.6% yield
▼ 2.5% 1 yr
Monroe, LA
$167K home$1,180 rent8.5% yield
▲ 3.3% 1 yr
Alexandria, LA
$172K home$1,029 rent7.2% yield
▲ 4.0% 1 yr
Hammond, LA
$222K home$1,315 rent7.1% yield
▲ 1.0% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.