While 2017 may not have been the best year for renters in New Orleans, 2018 may be different. This January, New Orleans maintains its No. 21 ranking as the most expensive metro area in the United States.
Zumper uses its national rent report to evaluate rent fluctuations of one- and two-bedroom apartments in over 100 metro areas. In its most recent study, Zumper found that rent for one-bedroom units has decreased by 4.1 percent, averaging $1,310/month in the New Orleans metro area. Not far behind, two-bedroom units decreased 4.8 percent, averaging $1,390/month. Since January of 2017, rent for two-bedroom units has fallen 14.7 percent.
The New Orleans metro area was among five areas that have seen notable decreases in both one- and two-bedroom apartments since last month. Nationally, rent for one-bedroom units increased by 2.1 percent, averaging $1,255/month. Rent for two-bedroom units increased by 0.2 percent, averaging $1,388/month.
To see how New Orleans compares to the rest of the nation, check out the interactive graph below. Visit Zumper’s official website to look at its full report.