Housing costs in New Orleans?
A typical home costs
$404,200, which is 19.6% more expensive than the national average of
$338,100 and 118.7% more expensive than the average Louisiana home, at
$184,800. Renting a two-bedroom unit in New Orleans costs
$1,170 per month, which is 17.0% more than the national average of
$1,000 and close to the state average of
$1,180.
Can I afford New Orleans?
To live comfortably in New Orleans (zip 70118), Louisiana, a minimum annual income of
$77,400 for a family, and
$39,600 for a single person is recommended.
What does A.I. say about New Orleans?
Living in 70118 New Orleans, LA can be quite expensive. The cost of living index is 77.3 (the U.S. average is 100). The median home value is $230,200 and the median income is $42,712, which means that housing costs take up a large portion of most people's incomes. Groceries and transportation expenses are also more expensive here than other parts of the country due to higher taxes and a lack of competition between businesses in the area. Although it can be pricey, there are plenty of amenities such as restaurants, bars, and shopping centers that make living in this area enjoyable for many people.