Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$242,069−1.5% YoY · prices are falling
Market right nowBalanced, leaning buyersFewer homes for sale than last year, 16% have cut their price
Income needed to buy, per year$52,475About 0.9× the local median income ($57,897): affordable for a typical household
Days on market76 daysFaster than a year ago: sellers have the edge
Next 12 months−1.0%Zillow expects prices to dip slightly
The typical home in Orleans Parish, LA is worth $242,069, down 1.5% from a year ago. That is well below what local incomes have historically supported: fair value is about $297,508, so the area is 18.6% undervalued. It is a balanced market, leaning toward buyers: homes take about 76 days to sell, listings are down 7% from a year ago, 16% of listings have had a price cut. Zillow expects prices to fall about 1.0% over the next year. A household needs about $52,475 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $57,897. Typical rent is $1,633 a month, or $1,927 for a house. In the latest IRS figures, 4,445 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$242,069
Change in 1 year
−1.5%
Overvalued %
−18.6%
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Fair home value
$297,508
Change in 5 years
−12.0%
Zillow forecast, next 12 months
−1.0%
Home value to income
4.2×
Monthly mortgage payment (20% down)
$1,312
Income needed to afford it
$52,475
Property tax rate
0.82%
Rent and investing
Typical rent
$1,633
Typical rent for houses
$1,927
Price-to-rent ratio
12.4×
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HUD Fair Market Rent, 2 bedrooms
$1,480
Gross rental yield
8.10%
Cap rate (estimate)
5.26%
Market activity
Listings vs a year ago
−7.2%
Days on market
76
Listings with a price cut
16.5%
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Homes for sale
1,745
Pending sales per 100 listings
19
Asking price per sq ft
$208
People and jobs
Median household income
$57,897
Population change (1 year)
−0.4%
Unemployment rate
7.5%
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Population
362,154
Income adjusted for cost of living
$62,524
Net moves in (IRS)
−4,445
Cost of living (US = 100)
92.6
Schools, risk and environment
School rating (1 to 10)
3.7
FEMA hazard risk score (0 to 100)
98.3
Unhealthy air days a year
0
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Flood risk score
93.5
Wildfire risk score
48.1
Walkability (1 to 20)
13.7
Road, rail and air noise
53 dB
Questions people ask
Is Orleans Parish, LA overvalued?
Home prices in Orleans Parish, LA are well below what local incomes have historically supported: fair value is about $297,508, so the area is 18.6% undervalued.
Is Orleans Parish, LA a buyer's or seller's market?
Orleans Parish, LA is a balanced market, leaning toward buyers: homes take about 76 days to sell, listings are down 7% from a year ago, 16% of listings have had a price cut.
Are home prices going down in Orleans Parish, LA?
Home values in Orleans Parish, LA are down 1.5% over the last year. Zillow's forecast for the next 12 months is −1.0%.
How much do you need to earn to buy a home in Orleans Parish, LA?
A household needs about $52,475 a year to afford the typical home in Orleans Parish, LA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $57,897.