18 zip codes·Updated September 2026

New Orleans rents and rental comps

The median asking rent across 18 New Orleans zip codes is $1,640/month, down 3.9% from a year ago.

Tourism and hospitality drive constant rental demand, but STR regulations have reshuffled the deck. The city has gotten aggressive about enforcement. Know where you can and can't operate before you buy.

Median Asking Rent

$1,640

Rent Change (YoY)

-3.9%

Avg Days on Market

Active Rental Listings

3,762

Median List Price

$265,000

Median Asking Rent Over Time

Average across 18 zip codes

12 months-3.5%

Median Asking Rent by ZIP Code

Rental Listings by ZIP Code

ZIP	Median Rent	YoY Growth	$/Sqft	Avg DOM	Listings
70124	$1,900/mo	-11.6%	$1.53	49	155
70130	$1,900/mo	-5.0%	$2.24	73	333
70118	$1,850/mo	-1.3%	$1.76	59	525
70112	$1,720/mo	-4.2%	$2.17	91	86
70113	$1,700/mo	+3.0%	$1.75	66	148
70115	$1,700/mo	-5.6%	$1.99	53	450
70116	$1,675/mo	+1.5%	$2.00	80	271
70125	$1,600/mo	-10.9%	$1.50	69	197
70121	$1,575/mo	-1.3%	$1.72	51	59
70122	$1,500/mo	-11.5%	$1.45	49	197
70126	$1,500/mo	+3.4%	$1.30	66	97
70128	$1,500/mo	+7.1%	$1.17	52	38
70131	$1,500/mo	-16.7%	$1.15	98	88
70114	$1,495/mo	-0.3%	$1.52	71	140
70117	$1,450/mo	0.0%	$1.54	70	387
70119	$1,450/mo	-6.5%	$1.65	62	450
70123	$1,425/mo	-10.9%	$1.52	60	72
70127	$1,295/mo	-0.4%	$1.17	85	69

Comps for any address in New Orleans

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Median Asking Rent by Bedroom

Unit Size	Median Rent	$/Sqft
Studio	$1,100/mo	$2.52/sqft
1 Bedroom	$1,150/mo	$1.96/sqft
2 Bedroom	$1,425/mo	$1.54/sqft
3 Bedroom	$1,950/mo	$1.49/sqft
4 Bedroom	$2,250/mo	$1.36/sqft

Aggregated median across all New Orleans zip codes with available data.

For-Sale Listings by ZIP Code

ZIP	Median List Price	YoY Change	$/Sqft
70115	$499,900	+4.3%	$292.89
70124	$499,000	+0.0%	$231.31
70130	$435,000	0.0%	$342.39
70118	$360,000	+6.2%	$201.52
70112	$359,900	-4.0%	$376.59
70116	$350,000	-6.7%	$353.54
70119	$349,000	-0.3%	$189.65
70123	$335,000	+3.1%	$194.81
70125	$275,000	-6.8%	$163.95
70113	$265,000	-8.5%	$190.62
70122	$264,500	+5.8%	$160.10
70121	$259,900	-8.8%	$200.89
70131	$205,000	+17.1%	$126.98
70114	$185,000	+23.3%	$156.25
70117	$170,000	-12.8%	$152.08
70127	$161,000	-5.2%	$108.81
70128	$160,500	+18.9%	$107.53
70126	$134,900	-3.6%	$103.53
70129	$95,000	+5.6%	$112.16

HUD Fair Market Rents

Unit Size	Fair Market Rent	Median Asking Rent	Difference
Studio	$970/mo	$1,100/mo	+13%
1 Bedroom	$1,120/mo	$1,150/mo	+3%
2 Bedroom	$1,340/mo	$1,425/mo	+6%
3 Bedroom	$1,710/mo	$1,950/mo	+14%
4 Bedroom	$2,000/mo	$2,250/mo	+13%

HUD publishes Fair Market Rents once a year for the New Orleans metro area. Local housing authorities use them to set Section 8 voucher payment standards, usually 90% to 110% of the FMR.

Orleans Parish FMR page Section 8 vs market rent

About the New Orleans rental market

The median asking rent across New Orleans, LA sits at $1,640/month, pulled from active rental listings in 18 zip codes. That's down 3.9% from a year ago.

Rents aren't uniform across the city. ZIP 70124 tops the list at $1,900/month. ZIP 70127 comes in lowest at $1,295/month. About a 47% gap between the two ends of the city.

A 2-bedroom rents for $1,425/month at the median. 1-bedrooms run about $1,150. 3-bedrooms come in around $1,950.

Listings take longer here. The average is 67 days on market, which gives renters more room to negotiate and means landlords should price carefully.

Gross rent-to-value lands around 7.4% ($1,640/month rent on a $265,000 median price). Middle of the pack for cash-flow markets.

HUD's Fair Market Rent for a 2-bedroom in the New Orleans metro is $1,340/month. City-wide asking rents run about 22% above that. Section 8 vouchers in this area often don't cover market rent without an exception payment standard.

New Orleans is unlike any other rental market. Tourism is the backbone. The hospitality and service industry employs a huge share of the workforce, and those workers need housing year-round. The Garden District, French Quarter, and Uptown are premium. Mid-City, Gentilly, and New Orleans East are cheaper. STRs are the variable here. The city went through a boom of Airbnb conversions that pulled long-term rental supply, then cracked down with strict regulations. Current STR rules vary by neighborhood, so check before you buy. Insurance costs in New Orleans are among the highest in the country because of hurricane exposure. Factor that in before you get excited about the rent numbers.

These numbers are city-wide averages. If you're pricing a specific property in New Orleans, pull comps from the same zip code. The spread is usually bigger than people expect.