Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$257,067+1.6% YoY · prices are rising
Market right nowBalanced, leaning buyersMore homes for sale than last year, 18% have cut their price
Income needed to buy, per year$55,727About 0.9× the local median income ($62,668): affordable for a typical household
Days on market75 daysAbout the same pace as a year ago
Next 12 months−1.0%Zillow expects prices to dip slightly
The typical home in New Orleans-Metairie, LA is worth $257,067, up 1.6% from a year ago. That is well below what local incomes have historically supported: fair value is about $320,758, so the area is 19.9% undervalued. It is a balanced market, leaning toward buyers: homes take about 75 days to sell, listings are up 2% from a year ago, 18% of listings have had a price cut. Zillow expects prices to fall about 1.0% over the next year. A household needs about $55,727 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 $62,668. Typical rent is $1,577 a month, or $1,861 for a house. In the latest IRS figures, 9,597 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
$257,067
Change in 1 year
+1.6%
Overvalued %
−19.9%
Show 7 more
Fair home value
$320,758
Change in 5 years
−7.1%
Zillow forecast, next 12 months
−1.0%
Home value to income
4.1×
Monthly mortgage payment (20% down)
$1,393
Income needed to afford it
$55,727
Property tax rate
0.60%
Rent and investing
Typical rent
$1,577
Typical rent for houses
$1,861
Price-to-rent ratio
13.6×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,474
Gross rental yield
7.36%
Cap rate (estimate)
4.79%
Market activity
Listings vs a year ago
+1.6%
Days on market
75
Listings with a price cut
18.4%
Show 3 more
Homes for sale
3,977
Pending sales per 100 listings
20
Asking price per sq ft
$174
People and jobs
Median household income
$62,668
Population change (1 year)
−0.3%
Unemployment rate
6.9%
Show 4 more
Population
970,849
Income adjusted for cost of living
$67,676
Net moves in (IRS)
−9,597
Cost of living (US = 100)
92.6
Schools, risk and environment
School rating (1 to 10)
5.0
FEMA hazard risk score (0 to 100)
94.9
Unhealthy air days a year
0
Show 4 more
Flood risk score
92.6
Wildfire risk score
33.9
Walkability (1 to 20)
10.5
Road, rail and air noise
53 dB
Questions people ask
Is New Orleans-Metairie, LA overvalued?
Home prices in New Orleans-Metairie, LA are well below what local incomes have historically supported: fair value is about $320,758, so the area is 19.9% undervalued.
Is New Orleans-Metairie, LA a buyer's or seller's market?
New Orleans-Metairie, LA is a balanced market, leaning toward buyers: homes take about 75 days to sell, listings are up 2% from a year ago, 18% of listings have had a price cut.
Are home prices going down in New Orleans-Metairie, LA?
Home values in New Orleans-Metairie, LA are up 1.6% 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 New Orleans-Metairie, LA?
A household needs about $55,727 a year to afford the typical home in New Orleans-Metairie, LA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $62,668.