New Orleans LA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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New Orleans, LA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

New Orleans Housing Market Information

With a population of 391,006, 154,036 total housing units (homes and apartments), and a median house value of $241,649, 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 44.24% 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 ( 26.01%), large apartment complexes or high rise apartments ( 19.59%), and a few row houses and other attached homes ( 9.56%).

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.

The housing in New Orleans was primarily built before 1939 ( 34.35%), making the housing stock in New Orleans some of the oldest overall in America, although there is a range of ages of homes in New Orleans. The next most important housing age is between 1940-1969 ( 30.91%), followed by between 1970-1999 ( 24.33%). There's also some housing in New Orleans built between 2000 and later ( 10.40%).

Vacant housing appears to be an issue in New Orleans. Fully 19.66% 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

Appreciation rates for homes in New Orleans have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 46.15%, which ranks in the top 30% nationwide. This equates to an annual average New Orleans house appreciation rate of 3.87%.

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 3.29%, 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 0.62%, which equates to an annual appreciation rate of 2.52%.

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 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.

Average Home Values

 

Median Home Value:
$241,649

New Orleans, LA HOME PRICES

Value Range
> $1,143,000 3.3
$858,001 - $1,143,000 3.2
$572,001 - $858,000 7.3
$458,001 - $572,000 7.2
$343,001 - $458,000 11.5
$229,001 - $343,000 19.0
$114,001 - $229,000 35.2
$57,001 - $114,000 9.7
$0 - $57,000 3.5

Very High for LA
High for Nation

Value Relative to Nation Value Relative to State
30.4467153284672 5.5363321799308

Number Of Homes And Apartments:
154,036

New Orleans Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
LA*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
119.58% 3.96%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,310 / per month

Homeownership Rate

Homeownership
Owners 45.65
Renters 54.35
Vacant 19.66

Housing Market Details

 

Age of Homes

AGE OF New Orleans HOMES
2000 or Newer 10.4
1970 - 1999 24.3
1940 - 1969 30.9
1939 or Older 34.4

Types of Homes

TYPE OF New Orleans HOMES
Single-Family 44.2
Townhomes 9.6
Small Apt. Buildings 26.0
Apt. Complexes 19.6
Mobile Homes 0.6
Other 0.1

Home Size

SIZE OF New Orleans HOMES
No Bedroom 3.15
1 Bedroom 19.44
2 Bedrooms 33.21
3 Bedrooms 30.68
4 Bedrooms 10.93
5 or more bedrooms 2.59