ZIP 70124
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12-month history
Last updated: October 17, 2026
What the numbers show
October. Asking rents in ZIP 70124 usually run 0.6% below trend in October and 0.3% above it in July, about $17 a month apart at today's median. Based on 9 years of data.
Rent in ZIP 70124 is at its highest level since Zillow's records here began in January 2017.
Rent in ZIP 70124 changed +0.8% over the year to September 2026. Across the 75 Louisiana ZIP codes Zillow tracks, the typical change was +3.0%.
From 2019 to 2024, rent in ZIP 70124 rose 26.5% while median household income rose 25.2% ($96,844 to $121,228). Rent outpaced income.
Rent in ZIP 70124 is 29.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 6 of the last 12 months.
30% of the median household income ($121,228) is $3,031 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,920).
14th cheapest of 15 ZIP codes in New Orleans.
ZIP 70119, 2 miles away, rents for 17% less ($1,545/mo), about $3,800 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 70124. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 70124 (New Orleans, LA) is majority owner-occupied, has a median income above the national average, 71.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 70124 in New Orleans, LA has changed in 5 years
The median rent in ZIP 70124 in New Orleans, LA stood at $1,491 in 2021 and currently runs about $1,859, reflecting a 24.7% increase over the period. On the earnings side, the typical household in ZIP 70124 in New Orleans, LA now reports about $121,228, up from $104,563 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 11.2% since 2021, moving from about 19,578 residents to roughly 21,778. Renters now make up 22.4% of households, compared with 28.6% five years ago. College-educated residents now make up 71.5% of adults here, versus 68.7% in 2021. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 70124 in New Orleans, LA reflects that arc in its own way.
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Tips for renters in ZIP 70124
Last updated: October 17, 2026
ZIP code 70124 covers New Orleans, LA. The median rent here is $1,859/mo as of October 2026. A 1-bedroom rents for a median of $1,610/mo. A 2-bedroom rents for a median of $1,930/mo.
At 18% of local median household income ($121,228/yr), ZIP 70124 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.8% over the past year.
Frequently asked questions
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How does ZIP 70124 compare to other ZIPs in Louisiana?
How does ZIP 70124 compare to the rest of New Orleans?
At $1,859/mo, rent takes ~18% of ZIP 70124's median household income ($121,228/yr). The standard benchmark is 30%.
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