New Orleans - LA housing market
The New Orleans metro has a typical home value of $257,067, up 1.6% from a year ago. Homes are sitting 49 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 $257,067 as of September 2026, down 0.3% from the prior month, down 0.5% over three months, and up 1.6% from a year ago. Over the past two years values have ranged from $251,451 to $258,375.
Homes are going pending in about 49 days, slower than the 36 days seen three months earlier. There are roughly 6,365 homes for sale, 0% fewer than a year ago. 25.3% of listings have taken a price cut (up from 24.4% three months ago).
Typical rent is $1,577 a month, up 1.8% year over year, which puts the price-to-rent ratio at 13.6.
At this week's 7.40% mortgage rate with 20% down ($51,413), the typical New Orleans home costs about $1,745 a month including tax and insurance, which needs a household income of roughly $74,800 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 ($257,067) 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 1.6% over the past year. In New Orleans - LA, that means a home worth $253,019 last year is now worth roughly $257,067.
The median sale price, what homes actually close for, is $274,587. 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 49 days before going pending. Shorter = seller's market; longer = buyer's market.
About 25.3% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 1,153 new listings hit the market each month in New Orleans - LA. There are currently 6,365 homes for sale, down 0.3% from a year ago.
The typical monthly rent in New Orleans - LA is $1,577, up 1.8% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 13.6x, buying territory (#172 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,424 a month in principal and interest, $153 less than renting before taxes, insurance and upkeep. The two break even at a 8.47% 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 | $246,247 | +2.7% | 37.0d |
| Lafayette - LA | $200,358 | +2.8% | 33.0d |
| Shreveport - LA | $183,475 | +3.8% | 33.0d |