New Orleans - LA housing market
The New Orleans metro has a typical home value of $261,002, up 2.1% from a year ago. Homes are sitting 47 days on average, buyers have negotiating room. 25% of listings have had a price cut. Data from Zillow Research, updated monthly.
New Orleans housing market, October 2026
The typical New Orleans home is worth $261,002 as of August 2026, down 0.1% from the prior month, down 0.2% over three months, and up 2.1% from a year ago. Over the past two years values have ranged from $254,593 to $261,603.
Homes are going pending in about 47 days, slower than the 34 days seen three months earlier. There are roughly 6,440 homes for sale, 1% fewer than a year ago. 25.4% of listings have taken a price cut (up from 23.7% three months ago).
Typical rent is $1,598 a month, up 1.4% year over year, which puts the price-to-rent ratio at 13.6.
At this week's 7.40% mortgage rate with 20% down ($52,200), the typical New Orleans home costs about $1,772 a month including tax and insurance, which needs a household income of roughly $75,900 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($261,002) is the Zillow Home Value Index for the New Orleans - LA metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 2.1% over the past year. In New Orleans - LA, that means a home worth $255,634 last year is now worth roughly $261,002.
The median sale price, what homes actually close for, is $272,978. Homes are selling at 96.6% of list price, meaning buyers have room to negotiate.
Homes listed in New Orleans - LA sit on the market for roughly 47 days before going pending. Shorter = seller's market; longer = buyer's market.
About 25.4% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 1,193 new listings hit the market each month in New Orleans - LA. There are currently 6,440 homes for sale, down 1.0% from a year ago.
The typical monthly rent in New Orleans - LA is $1,598, up 1.4% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 13.6x, buying territory (#171 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,446 a month in principal and interest, $152 less than renting before taxes, insurance and upkeep. The two break even at a 8.45% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in LA
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Baton Rouge - LA | $248,895 | +2.6% | 33.0d |
| Lafayette - LA | $202,529 | +2.8% | 37.0d |
| Shreveport - LA | $186,446 | +3.4% | 28.0d |