Cost of Living in New Orleans, Louisiana
In New Orleans, the median household income is $56,631 and the median gross rent is $1,251/mo, with a median home value of $315,700. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $56,631
- Median gross rent
- $1,251/mo
- Median home value
- $315,700
- Population
- 371,853
How New Orleans compares to the Louisiana average
| Measure | New Orleans, LA | Louisiana statewide | Difference |
|---|---|---|---|
| Median household income | $56,631 | $60,756 | -6.8% |
| Median gross rent (monthly) | $1,251 | $1,064 | +17.6% |
| Median home value | $315,700 | $216,500 | +45.8% |
Statewide, Louisiana prices average 88.2 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in New Orleans
- Salary needed for median rent
- $50,040
- Rent burden at median income
- 26.5%
- Est. affordable home price
- $206,586
So that $1,251/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in New Orleans is $315,700 — +52.8% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Louisiana cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.