Over the past year, Curbed NOLA has kept an eye on rental trends in the city. This month, New Orleans continues to see price drops in rent across its one- and two-bedroom apartments.
This November, New Orleans ranks No. 21 as the U.S. city with the most expensive rent in a study conducted by Zumper. Last October, New Orleans placed No. 22 overall in a similar study.
Compared to October of 2017, rent for one-bedroom apartments increased 4.8 percent since last October, averaging $1,310/month. The average rent for two-bedroom apartments underwent a 1.3 percent drop and now averages $1,480/month.
Since November of 2016, rent for both one- and two bedroom units in New Orleans have dropped more than 11 percent overall.
The rent analysis data comes from Zumper’s National Rent Report, which evaluates over one million listings in over 100 cities throughout the nation. Specifically, researchers at Zumper analyze one- and two-bedroom units throughout each city.
Nationally, Zumper estimates the average for one-bedroom apartments at $1,175/month and two-bedroom apartments at $1,391/month.
In a similar study conducted by ABODO, New Orleans ranks No. 14 as the metro area with the most expensive rent. ABODO estimates the median rent for one-bedroom units at $1,596/month and two-bedrooms at $1,745/month.
In early-October, researchers in a SmartAsset study estimate that having a roommate in New Orleans can save two people $407/month on average.