clock menu more-arrow no yes

Filed under:

Are rents are on the rise in New Orleans?

We’re now the 24th most expensive rental market in the U.S., according to the latest report by Zumper.

Photo by Jim Bowie via Shutterstock

This article has been updated to include additional reports.

Median rents for one- and two-bedroom apartments in New Orleans are up 2% and 1.3%, respectively, according to a report by Zumper, a real estate rental platform. Zumper’s national rent reports aggregate data from more than 1 million active listings in 300 U.S. cities to analyze housing trends. The report reveals that one-bedroom units rent for $1,370 per month, while two-bedroom units are $1,550 per month.

That figure is slightly higher than RentCafe’s, which clocks the New Orleans rental market at 1% percent increase compared to last year, with the average apartment one-bedroom going for $987 and the average two-bedroom sitting at $1,163 per month. It also exceeds Apartmentlist.com’s ranking, which puts the median one-bedroom rent at $797 per month and the median two-bedroom at $966. But Zumper’s figure is lower than RentJungle’s July 2018 estimate, which reports a 5% increase in rent from last year, with one- and two-bedrooms going for $1,366 and $1,839, respectively.

These rental platforms do skew toward luxury listings and don’t account for properties listed exclusively on sites like Craigslist—or those advertised only via word of mouth or a “for rent” placard in the window, both of which are popular methods among New Orleans landlords.

Zumper’s report covers 100 cities and ranks New Orleans as the 24th most expensive rental market. San Francisco ($3,570 per month) and New York ($2,870 per month) are, not surprisingly, the priciest cities for renters. Rents in Detroit are up 5%, hovering at $630 for a one-bedroom unit, while rents in Portland, Oregon fell 5.1% to land at $1,440 for a one-bedroom.

View the chart below for more information about rentals in 75 cities nationwide, and weigh in with our poll.

Images via Zumper

Poll

From your perspective, are rents going up?

This poll is closed

  • 50%
    Yes
    (11 votes)
  • 13%
    No, they staying the same
    (3 votes)
  • 22%
    No, they’re decreasing
    (5 votes)
  • 13%
    It’s hard to tell
    (3 votes)
22 votes total Vote Now