New Orleans, LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Orleans Neighborhoods Since 2000




New Orleans, LA Real Estate Data


New Orleans Housing Market Information

With 389,617 people, 150,409 houses or apartments, and a median cost of homes of $291,375, 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 44.17% 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 ( 22.47%), large apartment complexes or high rise apartments ( 19.36%), and a few row houses and other attached homes ( 13.12%).

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 33.38% of the city's housing hails from this era. Other housing ages represented in New Orleans include homes built before 1939 ( 30.97%) and housing constructed between 1970-1999 ( 25.87%). There's also some housing in New Orleans built between 2000 and later ( 9.79%).

Vacant housing appears to be an issue in New Orleans. Fully 21.38% 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

In the last 10 years, New Orleans has experienced some of the highest home appreciation rates of any community in the nation. New Orleans real estate appreciated 31.31% over the last ten years, which is an average annual home appreciation rate of 2.76%, putting New Orleans in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, New Orleans definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in New Orleans that despite a nationwide downturn in the housing market, New Orleans real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Orleans appreciation rates continue to be some of the highest in America, at 7.68%, which is higher than appreciation rates in 89.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Orleans. New Orleans appreciation rates in the latest quarter were at 2.47%, which equates to an annual appreciation rate of 10.24%.

Relative to Louisiana, our data show that New Orleans's latest annual appreciation rate is higher than 90% 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 2000, to assist you in making the best New Orleans real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$291,375

New Orleans, LA HOME PRICES

Value Range
> $1,263,000 1.8
$947,001 - $1,263,000 2.2
$632,001 - $947,000 5.5
$505,001 - $632,000 4.8
$379,001 - $505,000 9.6
$253,001 - $379,000 18.7
$126,001 - $253,000 39.4
$63,001 - $126,000 13.4
$0 - $63,000 4.6

Very High for LA
Very High for Nation

Value Relative to Nation Value Relative to State
17.7314516601277 0.347222222222222

Number Of Homes And Apartments:
150,409

Rent & Ownership

 

Average Market Rent:
$1,214 / per month

Homeownership Rate

Homeownership
Owners 45.27
Renters 54.73
Vacant 21.38

Housing Market Details

 

Age of Homes

AGE OF New Orleans HOMES
2000 or Newer 9.8
1970 - 1999 25.9
1940 - 1969 33.4
1939 or Older 31.0

Types of Homes

TYPE OF New Orleans HOMES
Single-Family 44.2
Townhomes 13.1
Small Apt. Buildings 22.5
Apt. Complexes 19.4
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF New Orleans HOMES
No Bedroom 3.33
1 Bedroom 18.71
2 Bedrooms 33.65
3 Bedrooms 30.95
4 Bedrooms 10.68
5 or more bedrooms 2.69

New Orleans Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
103.37% 4.26% 10 10
* 10 is highest