Markets › LA › New Orleans

New Orleans, LA housing market

New Orleans, LA median sale price $344K in Aug 2026, down 1.8% year over year. Also days on market, price cuts, affordability and ZIP-code figures.

The median sale price in New Orleans, LA is $344K as of Aug 2026, down 1.8% from a year earlier. The decline is steeper than in most of the 195 U.S. metros Pecan Street ranks on this measure. FHFA's repeat-sales index for the metro points the other way: up 2.7% through Q2 2026.

New Orleans has the highest median sale price of the three Louisiana metros Pecan Street tracks ($344K), ahead of Lafayette ($250K). On median days on market, New Orleans (80 days) ranks 2nd of the three Louisiana metros, between Lafayette (81 days) and Baton Rouge (74 days). New Orleans has the lowest share of listings with a price cut of the three Louisiana metros (28%); Baton Rouge (32%) is next.

Listings spent a median 80 days on market in Sep 2026, the 16th-most of the 195 metros. 28% of active listings carry a price cut, 0.9 points more than a year earlier. That share is lower than in most of the 195 metros. Building permits authorized 134 new housing units in Aug 2026.

At the 7.45% 30-year fixed rate with 20% down, principal and interest on a median-priced home come to $1,914 a month; at 28% of gross income, that takes about $82K a year. The median sale price equals about 15 years of HUD Fair Market Rent, a ratio down 12.1% from a year earlier. Active listings ask a median $174 per square foot, down 4.9% from a year earlier.

In seven of the 12 ZIP codes in the table below, median list prices are lower than a year earlier; five are higher.

Headline

Median sale price

Aug 2026

$344K

-1.8% year-over-year

How it’s calculated

Rolling 3-month median sale price vs. same 3 months one year prior.

Mortgage rate

Oct 6, 2026

7.45%

30-year fixed

Where it comes from

National benchmark: Optimal Blue OBMMI 30-year conforming, via FRED. An average of rates borrowers have actually locked, updated daily.

The same rate appears on every market page.

Monthly payment

Principal & interest

$1,914/mo

$82K/yr income needed

How it’s calculated

Payment — this market’s median sale price with 20% down, on a 30-year fixed loan at the rate shown. Principal and interest only — no property tax, insurance, PMI or HOA.

Income needed — that payment at 28% of gross income. A rule of thumb, not a lending decision.

How New Orleans compares to other U.S. metros

Days on market	↑16th of 195 (top 9%)
Price cuts	↓170th of 195
Home-price growth	↓163rd of 195
Price-to-rent	94th of 195 (top 49%)

Rank across the U.S. metros Pecan Street tracks, on market data alone — a higher rank means more of that measure (more price cuts, faster price growth, a wider asking-vs-sale gap, a higher price-to-rent ratio, or more days on market). The bar shows where this metro sits within that metric’s own cohort (left is more, right is less); ↑ and ↓ mark the positions furthest from the middle, and rows are ordered the same way. Metrics without data for this metro are omitted.

Affordability

Price-to-rent ratio	≈ 15 -12.1% YoY 94th of 195 (top 49%)
Asking price / sq ft	$174 -4.9% YoY

Price-to-rent divides the median sale price by the annual HUD Fair Market Rent (a 3-bedroom, 40th-percentile benchmark), so it is a directional rent-vs-buy read, not a cap rate; its year-over-year change is directional in the same way. Asking price per square foot is the median across active for-sale listings (Realtor.com), as of Sep 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.

Market pressure

Listings with a price cut	≈ 28% +0.9 pts YoY ↓170th of 195
New housing units permitted	134

Price-cut share is the portion of active for-sale listings that have taken a price reduction (Realtor.com), as of Sep 2026. New housing units authorized by residential building permits in the metro that month — new supply in the pipeline, which counts of existing listings don't capture (US Census Bureau, Building Permits Survey), as of Aug 2026. The bar under a figure places this metro among the U.S. metros we track on that measure, highest first.

Market facts

ZIPs with listing data	12 shown of 77
MLS board of record	New Orleans Metropolitan Association of REALTORS
Price methodology	Redfin vs FHFA HPI
Data as of	Aug 2026

Recent signals

Strength 4 / 5

6.6 mo

New Orleans supply now 6.6 months — buyer's market

Six-plus months of supply in New Orleans — this is a buyer's market by the textbook definition.

Price reconciliation

red · 4.5pp

Redfin (city)

-1.8%

FHFA HPI · Q2 2026

+2.7%

Year-over-year home-price change from two independent methods — Redfin (monthly sold price) and FHFA (quarterly repeat-sales index). When they diverge, the market is mid-shift; cite the figure with that in mind.

Market dispatches

Citable market dispatches for New Orleans → Latest dispatch: Sep 18, 2026.

More markets in LA

Baton Rouge Lafayette

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ZIP-level data

ZIP	Median list price	Active listings	New listings	Price reductions	Days on market	Home value
70001	$305K↓	138↓	36↑	58↑	54↓	$324K↑
70003	$282K↓	160↓	34↑	62↑	67↓	$279K↑
70058	$258K↑	131↑	22↑	24	94↑	$234K↑
70065	$290K↑	172↑	54↑	58↑	68↑	$283K↑
70072	$230K↓	170↑	52↓	62↑	74↑	$228K↑
70116	$360K↓	172↓	28↑	24↓	107↑	$313K↑
70117	$216K↓	158↓	30↓	26↑	103↑	$175K↓
70122	$299K↓	142↓	42↑	38↓	69↓	$220K↓
70130	$398K↓	177↓	34↑	34↑	100↑	$440K↑
70433	$433K↑	236↓	54↓	78↓	71↑	$342K↑
70458	$280K↑	252↓	56↑	84↓	73↓	$219K↓
70461	$299K↑	203↓	42↓	44↓	66↓	$270K↓

ZIP figures from Realtor.com listing data; home value from Zillow ZHVI. ZIP codes shown have the most complete listing-data history and active for-sale inventory in this metro; the latest available month is shown per ZIP. Arrows show the direction of each figure against the same three months a year earlier; no arrow means the change rounds to zero or the comparison isn't available.