Median rents, rental comps, and market trends across 15 zip codes in New Orleans, LA.
Tourism and hospitality drive constant rental demand, but short-term rental 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
$1,675
Rent Change (YoY)
-3.7%
Avg Days on Market
77
Active Rental Listings
3,359
Median List Price
$299,000
Average across 15 zip codes
ZIP | Median Rent |
|---|---|
| 70130 | $2,000/mo |
| 70112 | $1,922/mo |
| 70124 | $1,900/mo |
| 70118 | $1,850/mo |
| 70115 | $1,800/mo |
| 70116 | $1,650/mo |
| 70125 | $1,600/mo |
| 70114 | $1,500/mo |
| 70117 | $1,500/mo |
| 70119 | $1,500/mo |
| 70121 | $1,500/mo |
| 70122 | $1,500/mo |
| 70113 | $1,450/mo |
| 70127 | $1,425/mo |
| 70126 | $1,400/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,200/mo |
| 1 Bedroom | $1,225/mo |
| 2 Bedroom | $1,500/mo |
| 3 Bedroom | $1,900/mo |
| 4 Bedroom | $2,200/mo |
Aggregated median across all New Orleans zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 70124 | $519,000 |
| 70115 | $495,000 |
| 70130 | $444,900 |
| 70118 | $375,000 |
| 70112 | $368,000 |
| 70116 | $365,000 |
| 70119 | $349,000 |
| 70121 | $299,000 |
| 70113 | $279,000 |
| 70125 | $275,000 |
| 70122 | $249,000 |
| 70117 | $190,000 |
| 70127 | $175,000 |
| 70114 | $150,000 |
| 70126 | $139,999 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $970/mo |
| 1 Bedroom | $1,120/mo |
| 2 Bedroom | $1,340/mo |
| 3 Bedroom | $1,710/mo |
| 4 Bedroom | $2,000/mo |
Fair Market Rents are published annually by HUD for the New Orleans metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across New Orleans, LA is currently $1,675/month, based on active rental listings across 15 zip codes. Median asking rents have decreased by -3.7% over the past 12 months.
Asking rents vary significantly across the city. ZIP 70130 has the highest median asking rent at $2,000/month, while ZIP 70126 comes in at $1,400/month.
Rental listings in the area spend an average of 77 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the New Orleans metro area is $1,340/month. Current median asking rents are above the FMR, which is common in growing markets.
New Orleans is unlike any other rental market. Tourism is the backbone — the hospitality and service industry employs a huge portion 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 more affordable. The STR situation is a big deal here — the city went through a boom of Airbnb conversions that removed long-term rental supply, then cracked down with strict regulations. Understanding the current STR rules in whatever neighborhood you're looking at is essential. Insurance costs in New Orleans are among the highest in the country due to hurricane exposure. Factor that in before you get excited about the rent numbers.
Want to look up rental comps and rent estimates for a specific property in New Orleans? PropMetrics lets you search any address and get detailed rental data instantly.
Get rent estimates, comparable rentals, and market data for any property in New Orleans, LA. Free to start.
What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.