Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 389,617, 153,140 total housing units (homes and apartments), and a median house value of $214,114, 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 44.16% 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 ( 23.49%), large apartment complexes or high rise apartments ( 19.48%), and a few row houses and other attached homes ( 12.09%).
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 32.46% of the city's housing hails from this era. Other housing ages represented in New Orleans include homes built before 1939 ( 31.81%) and housing constructed between 1970-1999 ( 25.38%). There's also some housing in New Orleans built between 2000 and later ( 10.34%).
Vacant housing appears to be an issue in New Orleans. Fully 20.22% 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.
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 28.44% over the last ten years, which is an average annual home appreciation rate of 2.53%, 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.
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 2.87%, 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 2.15%, which equates to an annual appreciation rate of 8.90%.
Relative to Louisiana, our data show that New Orleans's latest annual appreciation rate is higher than 60% 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.
|$918,001 - $1,223,000||2.6|
|$611,001 - $918,000||5.7|
|$489,001 - $611,000||5.4|
|$367,001 - $489,000||10.1|
|$245,001 - $367,000||18.2|
|$122,001 - $245,000||39.2|
|$61,001 - $122,000||12.6|
|$0 - $61,000||4.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
2000 Q1 - 2017 Q2
|* 10 is highest|
|AGE OF New Orleans HOMES|
|2000 or Newer||10.3|
|1970 - 1999||25.4|
|1940 - 1969||32.5|
|1939 or Older||31.8|
|TYPE OF New Orleans HOMES|
|Small Apt. Buildings||23.5|
|SIZE OF New Orleans HOMES|
|5 or more bedrooms||2.71|