Housing costs in New Orleans?
A typical home costs
$416,500, which is 23.2% more expensive than the national average of
$338,100 and 125.4% more expensive than the average Louisiana home, at
$184,800. Renting a two-bedroom unit in New Orleans costs
$1,500 per month, which is 50.0% more than the national average of
$1,000 and 21.3% more than the state average of
$1,180.
Can I afford New Orleans?
To live comfortably in New Orleans (zip 70112), Louisiana, a minimum annual income of
$79,920 for a family, and
$50,800 for a single person is recommended.
What does A.I. say about New Orleans?
The cost of living in 70112 New Orleans, LA is relatively affordable compared to many other cities. According to BestPlaces, the overall cost of living index in this area is 75.62, which is lower than the US average of 100. Rent for an apartment in the city center costs an average of around $1,100 per month, while a similar apartment outside the center costs about $800 per month. Groceries are also relatively inexpensive here, with basic food items costing roughly 15% less than the national average. Gas prices are usually a few cents above average, but they remain fairly consistent throughout the year. All in all, 70112 New Orleans, LA offers residents an attractive mix of affordability and quality lifestyle options.