Cost of Living in New Orleans, LA
Population 371,853 · Census ACS 2020–2024 5-year estimates
The median rent in New Orleans, LA is $1,251/month, 18% higher than the Louisiana median and 11% lower than the U.S. median. The median home value is $315,700, 5% lower than the national median. Households earn a median of $56,631 a year, 7% lower than the state median.
Affordability
Run your own numbers: mortgage calculator · hourly to salary
New Orleans vs. Louisiana vs. U.S.
| New Orleans | Louisiana | U.S. | |
|---|---|---|---|
| Median rent | $1,251 | $1,064 | $1,413 |
| Median home value | $315,700 | $216,500 | $332,700 |
| Median household income | $56,631 | $60,756 | $80,734 |
| Homeownership rate | 51.2% | 67.4% | 65.2% |
| Bachelor's degree or higher | 42.4% | 27.0% | 35.7% |
| Poverty rate | 22.6% | 18.9% | 12.5% |
| Unemployment rate | 7.5% | 6.3% | 5.2% |
| Work from home | 14.9% | 8.1% | 15.1% |
| Median age | 38.8 | 38.0 | 38.9 |
FAQ
What is the average rent in New Orleans, LA?
The median gross rent in New Orleans, LA is $1,251 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in New Orleans, LA?
Using the common 30% rule, renting a median-priced home takes about $50,040 a year in gross income.
Is New Orleans, LA expensive to live in?
Rent there is 11% lower than the U.S. median, and the median home costs about 5.6 times the median household income.
Other cities in Louisiana
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Explore more
New tools, top deals and new pages — one short email a week. No spam.