New Orleans appreciation rates and housing market information

New Orleans housing market information

With a population of 484,674, 215,091 total housing units (homes and apartments), and a median house value of $163,998, New Orleans real estate is some of the most expensive in Louisiana, although New Orleans home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in New Orleans, accounting for 41.90% of the city's housing units. Other types of housing that are prevalent in New Orleans include duplexes, homes converted to apartments, or other small apartment buildings (23.31%), large apartment complexes or high rise apartments (19.44%), and a few row houses and other attached homes (14.96%).

People in New Orleans primarily live in small (one, two, or no bedroom) single-family detached homes. New Orleans has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. New Orleans's housing was primarily built during this period, from the '40s through the '60s. A full 45.58% of the city's housing hails from this era. Other housing ages represented in New Orleans include homes built between 1939 and earlier (29.66%), and housing constructed from 1970-1994 (23.07%). There's also some housing in New Orleans built between 1995 and later (1.69%).

Vacant housing appears to be an issue in New Orleans. Fully 12.48% of the housing stock is classified as vacant. Left unchecked, vacant New Orleans homes and apartments can be a drag on the real estate market, holding New Orleans real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

New Orleans home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in New Orleans, where house values have increased just 35.62%, which is an average annual increase of 3.56%. NeighborhoodScout's data show that in the latest quarter, New Orleans house values appreciated -1.11%, which is an annualized rate of -4.44%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, New Orleans appreciation rates have trailed the rest of the nation. In the last twelve months, New Orleans's appreciation rate has been -4.32%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Orleans were at -1.11%, which equates to an annual appreciation rate of -4.44%.

Notably, New Orleans's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Louisiana, our data show that New Orleans's latest annual appreciation rate is higher than 2% of the other cities and towns in Louisiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within New Orleans differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Orleans - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best New Orleans real estate investment or home purchase decisions.