Orleans Parish, Louisiana Housing Market Prices
Orleans Parish Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 83% above the Louisiana median Among the 5 most expensive counties in Louisiana$311,601
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Median rent 18% above the Louisiana median More expensive than 92% of counties in Louisiana$1,251
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Orleans Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $311,601 | $170,446 | $248,835 |
| Price Trend (Annual %) | 8.2% | 4.3% | 7.5% |
| Median Gross Rent | $1,251 | $1,063 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Orleans Parish is about 83% higher than in Louisiana. Rent is about 18% higher than the Louisiana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Orleans Parish, up about 8.2% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Orleans Parish rose about 35.4% between 2015 and 2024, from $924 to $1,251. Over the same span, rent in Louisiana rose about 35.1%.
Affordability
On average, housing unit costs 5.5 yearly household incomes in Orleans Parish.
Buying the median-priced home in Orleans Parish costs roughly 20.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Orleans Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Orleans Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $311,601 | $170,446 | $248,835 |
| Median Household Income | $56,737 | $60,934 | $80,455 |
| Price-to-Income Ratio | 5.5 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Orleans Parish rose about 90.4%, while median household income rose about 49.7% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Orleans Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.8% | 57.7% | 58.5% |
| Rental Rate | 38.9% | 27.9% | 31.2% |
| Vacancy Rate | 20.3% | 14.4% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Orleans Parish has a homeownership rate of 40.8%, lower than the Louisiana average of 57.7%. Its housing vacancy rate is 20.3%, compared with 14.4% in Louisiana.
Housing Stock
| Metric | Orleans Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1966 | 1983 | 1978 |
| Median Number of Rooms | 5.0 | 5.5 | 5.5 |
The typical housing unit in Orleans Parish was built around 1966. On average, 2.3 people live in a home with about 5.0 rooms, staying for about 15.0 years on average.
Orleans Parish, LA Housing Compared With Nearby Counties
Orleans Parish, LA is the 2nd largest of the 5 counties compared here, 371,664 residents against a local median of 161,903. Orleans Parish, LA's median home price, at $311,601, runs 54% above the $202,794 typical of the counties around it.
Homeownership tells the same story from another angle: 51.2% against a local median of 79.1%, 35% below it. The one measure here that carries a verdict is homeownership, and at 35% below the local median it puts Orleans Parish, LA at the weaker end of the local range. The counties themselves sit within $54,033 of each other on median home price, a tighter band than the gap between any of them and Orleans Parish, LA, which makes it a genuine outlier here rather than one end of a wide local spread. Orleans Parish, LA has the highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Orleans Parish, LA | 371,664 | $311,601 #1/5 | $1,251 #2/5 | 51.2% #5/5 |
| St. Tammany Parish, LA | 272,409 | $222,336 | $1,331 | 78.9% |
| Jefferson Parish, LA | 430,689 | $211,530 | $1,189 | 62.6% |
| St. Charles Parish, LA | 51,396 | $194,058 | $1,209 | 82.0% |
| Hancock County, MS | 46,167 | $168,303 | $976 | 79.2% |
Frequently Asked Questions
Common questions about the housing market in Orleans Parish, Louisiana.
What is the median home price in Orleans Parish, Louisiana?
The median home price in Orleans Parish, Louisiana is $311,601, higher than the Louisiana average of $170,446.
What is the average home price in Orleans Parish, Louisiana?
The typical home price in Orleans Parish, Louisiana, reported as the median sale price, is $311,601. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Orleans Parish, Louisiana?
The median gross rent in Orleans Parish, Louisiana is $1,251 per month, higher than the Louisiana average of $1,063.
What was the median gross rent in Orleans Parish in 2020?
In 2020, the median gross rent in Orleans Parish, Louisiana was $1,024 per month.
What is the price-to-rent ratio in Orleans Parish, Louisiana?
The price-to-rent ratio in Orleans Parish, Louisiana is about 20.8, meaning it would take roughly 20.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Orleans Parish.
Are home prices or rent rising faster in Orleans Parish, Louisiana?
Both home prices and rent are rising in Orleans Parish, up about 8.2% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Orleans Parish, Louisiana?
40.8% of households in Orleans Parish, Louisiana own their home, lower than the Louisiana average of 57.7%.
What is the vacancy rate in Orleans Parish, Louisiana?
The housing vacancy rate in Orleans Parish, Louisiana is 20.3%, higher than the Louisiana average of 14.4%.
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