Rents are 6% below what New Orleans's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,648 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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Who lives here
New Orleans, LA is roughly split between renters and owners, has a median income below the national average, 42.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How New Orleans, LA has changed in 5 years
Across the past five years, the going rent in New Orleans, LA has shifted from $1,396 to $1,648, up 18.1% since 2021. Census figures show median household income at $56,631 today, compared with $45,594 five years earlier. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show New Orleans, LA losing about 12,121 residents over the five-year window, down 3.2% on net. The renter share has eased from 52% to 48.8%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 39.1% to 42.4% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
Discussions about New Orleans
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Can you afford rent in New Orleans on your salary?
At $1,648/mo, how New Orleans rent compares to typical pay (30% rule).
New Orleans rent by bedroom count
Median rent for each apartment size in New Orleans. Click any size for full breakdown.
Tips for renters in New Orleans
Last updated: August 17, 2026
The median rent in New Orleans is $1,648/mo as of August 2026. A studio apartment averages $1,142/mo while a 2-bedroom runs $1,576/mo. One-bedroom apartments average $1,319/mo and 3-bedroom units go for $2,015/mo.
At 35% of local median household income ($56,631/yr), New Orleans ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.8% over the past year.
Frequently asked questions
Is New Orleans an affordable city for renters?
How much income do you need to rent in New Orleans?
Is rent going up or down in New Orleans?
Which New Orleans neighborhoods have the lowest rent?
How does New Orleans rent compare to other cities in Louisiana?
Which nearby cities are cheaper to rent in than New Orleans?
What percentage of New Orleans residents rent vs. own?
How does New Orleans rent compare to the national average?
At $1,648/mo, rent takes ~35% of New Orleans's median household income ($56,631/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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