New Orleans, Louisiana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the New Orleans, Louisiana rental market.
New Orleans, Louisiana
Average Apartment Rent
$1,386
Y-o-Y Change in Average
Apartment Rent
-2%
As of May 2026
Compared to a year ago, New Orleans, Louisiana apartments have recorded a -2% rent decrease.
New Orleans, Louisiana Average apartment rent trend
New Orleans, Louisiana Average Apartment Rent
New Orleans, Louisiana Apartment rent ranges
At 38%, apartments priced $1,000 - $1,500 represent the bulk of New Orleans, Louisiana rentals, while condos priced Over $3,000 hold the lowest share of the market – 1.38%.
New Orleans, Louisiana Housing tenure**
Renters take up 51% of New Orleans, Louisiana real estate, occupying a total of 78,944 units, while homeowners live in 76,725 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$31,793
Average household size of renter-occupied housing units**
2.15
Rental vacancy rate**
7%
New Orleans, Louisiana Renter-occupied housing units by no. of bedrooms**
There are 30,897 rentals in New Orleans, Louisiana with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 457 units. Overall, the median number of rooms in New Orleans, Louisiana homes for rent is 4.2.
New Orleans, Louisiana Renter-occupied units by age of householder**
Most condos for rent in New Orleans, Louisiana are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (22%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
New Orleans, Louisiana Renter-occupied housing units by family type**
New Orleans, Louisiana Renter-occupied housing units by the presence of own children**
A total of 27,327 apartments for rent in New Orleans, Louisiana, or 35% of all rentals are family households. Additionally, 21% of rental homes include children under the age of 18 – that’s 16,427 units. All in all, the median size of a renter-occupied household in New Orleans, Louisiana is 2.15.
New Orleans, Louisiana Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 32% of the rental market. In contrast, residents with less than a high school degree reside in 14% of the homes for rent in New Orleans, Louisiana.
New Orleans, Louisiana Renter-occupied units by year structure built**
The highest share of New Orleans, Louisiana apartment rentals, namely 28% or 21,969 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (16%, 12,629 units), and the ones Built 1950 - 1959 (11%, 8,995 units).
New Orleans, Louisiana Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most New Orleans, Louisiana renters (48%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their New Orleans, Louisiana condos for rent is 2016.
New Orleans, Louisiana Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of New Orleans, Louisiana renters have 1 vehicle available per household, 28% of them have No vehicle available, and 16% have 2 vehicles available.
New Orleans, Louisiana Means of transportation to work of householders living in renter-occupied housing units**
New Orleans, Louisiana Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all New Orleans, Louisiana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
