The 70124 zip code in New Orleans, Louisiana has a 2 bedroom rental rate of $1,620 a month. Although this is slightly higher than the US average of $1,430, the overall cost of living is still fairly reasonable. Grocery Cost Index (GCI) in 70124 is 104 compared to 100 nationally which means groceries are slightly more expensive than average in this zip code.
There are many local companies that contribute to the economy of 70124 including Tidewater Physicians Multispecialty Group, Laitram LLC, and Hospitality Enterprises Inc. These companies provide many job opportunities for people living in 70124 and the surrounding areas. Overall the cost of living in 70124 is slightly above average but still very reasonable when taking into consideration all factors.
New Orleans (zip 70124) has an unemployment rate of 11.0%. The US average is 6.0%.
New Orleans (zip 70124) has seen the job market decrease by -7.3% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for New Orleans (zip 70124)
- The Sales Tax Rate for New Orleans (zip 70124) is 9.5%. The US average is 7.3%.
- The Income Tax Rate for New Orleans (zip 70124) is 6.0%. The US average is 4.6%.
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Income and Salaries for New Orleans (zip 70124)
- The average income of a New Orleans (zip 70124) resident is $61,263 a year. The US average is $37,638 a year.
- The Median household income of a New Orleans (zip 70124) resident is $104,563 a year. The US average is $69,021 a year.