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Apartments for Rent in New Orleans, LA under $1400 – 113 Rentals available


New Orleans’s average rent reached $1,149 in January

New Orleans’s average rent reached $1,149 in January after a 2.6% decrease since last year. A renter-majority city (47%), New Orleans diverse and vibrant place to live in, with apartment rents below the national average of $1,392. [View Full Report]

New Orleans apartment rent report

New Orleans’s average rent was $1,149 in January

New Orleans’s average rent reached $1,149 in January after a 2.6% decrease since last year. With a renter share of 47%, New Orleans is a diverse and vibrant place to live in, with apartment rents below the national average of $1,392.

The average rent for an apartment in?New Orleans has decreased compared to other surrounding cities such as Kenner ($875), where prices went up by 2.5%, or Metairie, where rent went up by 3.9% reaching $988.

New Orleans apartment rent report

What it costs to rent in the New Orleans metro area

Despite a 1.9% increase, Gretna rentals are the second most budget-friendly option in the New Orleans area, with an average price of $914, following Kenner. At $953 a month, following a 0.3% increase, renting in Harvey is another attractive option, followed by Metairie, which comes in fourth. These are the only cities that fall below the $1,000 threshold. Excluding New Orleans, River Ridge is the priciest city for renters in the area, with apartments going for $1,107 after a 2.1% increase. Mandeville is next, with an average rate of $1,085, 2.8% higher than last year, followed by Covington, where monthly apartment rates went up 4.3% going for $1,076.

New Orleans apartment rent report

Methodology

RENTCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.

The data on average rents included in our reports comes directly from competitively-rented(market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.

New Orleans, LA Demographics

  • Total Population390,845
  • Female 185,513
    Male 205,332
  • Median Age36.8

Average Rent in New Orleans, LA

  • New Orleans, LA Average Rental Price, October 2020 $1,166 /mo

New Orleans, LA Apartment Rent Ranges

  • $501-$70012%
  • $701-$1,00040%
  • $1,001-$1,50027%
  • $1,501-$2,00014%
  • > $2,0007%

New Orleans, LA Rent Trends

Average Rent Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Oct / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Oct / 2020
New Orleans, LA $1,090 $1,087 $1,106 $1,110 $1,134 $1,154 $1,189 $1,193 $1,186 $1,169 $1,166
National $1,378 $1,381 $1,418 $1,428 $1,432 $1,468 $1,475 $1,477 $1,464 $1,462
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New Orleans, LA Households

  • Total Number of Households153,819
  • Family 72,247
    Non-family 81,572
  • Children 33,270
    No Children 120,549
  • Average People Per Household2.45
  • Median Household Income$41,604
  • Median Housing Costs Per Month$1,031

New Orleans, LA Education Statistics

  • No High School3%
  • Some High School34%
  • Some College24%
  • Associate Degree4%
  • Bachelor Degree20%
  • Graduate Degree15%