1643 Josephine St
1643 Josephine St,
New Orleans, LA 70130
1-3 Beds | $1,756 - $3,177
Rental Market Trends in New Orleans, LA
What is the average rent in New Orleans, LA?
$1,299/month
Average Rent
716 Sq Ft
Average Apartment Size
+0.7%
Increase in the Last Year
As of December 2024, the average rent in New Orleans, LA is $1,299 per month. This is 17% lower than the national average rent of $1,560/month, making renting in New Orleans more affordable than most cities in the US. When you rent an apartment in New Orleans, you can expect to pay about $999 per month for a studio, $1,299 for a one-bedroom apartment, and around $1,513 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,658 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in New Orleans, LA?
In the past year, rent has increased by 0.7%, which averages out to $10 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in New Orleans, LA
Last Updated December 2024
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
6%
Below $700/month
32%
$700 - $1,000/month
20%
$1,001 - $1,500/month
21%
$1,501 - $2,000/month
21%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in New Orleans?
Based on current rent prices, West Lake Forest, Little Woods and New Orleans East are the most affordable neighborhoods in New Orleans.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in New Orleans?
Based on current rent prices, French Quarter, Iberville and New Orleans CBD are the most expensive neighborhoods in New Orleans.
Neighborhood
Average Rent
Average Sq Ft
Which New Orleans neighborhoods have the most rentals available?
The neighborhoods in New Orleans with the most apartments available are Uptown New Orleans, Lower Garden District and Downtown New Orleans .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in New Orleans, LA?
Because the average rent in New Orleans is $1,299, you’ll want to make about $4,330 per month or $51,960 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does New Orleans, LA compare to other nearby cities and neighborhoods?
Use the tool below to compare New Orleans, LA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$1,484/month
One Bedroom
$765/month
$1,951/month
Two Bedroom
$884/month
$2,866/month
Three Bedroom
$1,108/month
$3,833/month
Nearby City Rent Trends
Apartment communities in New Orleans we think you'll love
Property Management Companies in New Orleans, LA
HRI Properties
-
13
Communities
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2,380
Units
-
5
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9 Communities in New Orleans
LYND Living
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49
Communities
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10,310
Units
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22
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5 Communities in New Orleans
Latter & Blum
-
22
Communities
-
3,690
Units
-
8
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4 Communities in New Orleans
Greystar
-
3,191
Communities
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884,840
Units
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829
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3 Communities in New Orleans
McCormack Baron Management
-
24
Communities
-
5,861
Units
-
16
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3 Communities in New Orleans
Key Real Estate Company
-
18
Communities
-
4,001
Units
-
11
Cities
3 Communities in New Orleans
Cushman & Wakefield
-
550
Communities
-
135,507
Units
-
276
Cities
2 Communities in New Orleans
Drucker + Falk
-
148
Communities
-
35,253
Units
-
56
Cities
2 Communities in New Orleans
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.