Just last week, Curbed New Orleans showed what $2,000 can rent in the city. This week, NeighborhoodX, a real estate and analytics firm, graphed the ten most affordable properties in the French Quarter neighborhood.
In an ongoing study spearheaded by NeighborhoodX, the firm evaluates prices of entry-level homes in cities across the United States. Particularly, New Orleans has remained a point of interest.
“Rather than looking at an index or some abstracted number, we wanted to convey this is a way which made the information accessible to the average reader, rather than just to economists," said Constantine Valhouli, the co-founder of NeighborhoodX.
"As a result, we focused our analysis on the ten most affordable market-rate properties in a particular neighborhood. This is a metric that anyone can quickly grasp,” he added.
The NeighborhoodX’s list excludes foreclosures, affordable housing initiatives, short sales, properties under 470 square feet, and homes that require extensive renovation.
The least expensive home is a condo located at 919 St. Philip Street. The $260,000 unit has one bedroom, one bathroom, and is 651 square feet. On the higher end of the affordability chart is a condominium located on Burgundy Street. The $329,000 unit has one bedroom, two bathrooms, and 721 square feet.
Though, all of these homes featured have one thing in common: They are all units apart of a condominium. So if you’re looking for an affordable home in the French Quarter, be prepared to shell out a bit more.
In March, NeighborhoodX found that the average price per square foot for French Quarter homes is $566, which is one of the highest averages in the city.
- New Orleans rent comparison: What $2,000 gets you [Curbed NOLA]
- French Quarter: 10 most affordable (Apr. 2017) [NeighborhoodX]
- Evaluating the French Quarter neighborhood price range [Curbed NOLA]