Housing costs in New Orleans?
A typical home costs
$330,600, which is 2.2% less expensive than the national average of
$338,100 and 78.9% more expensive than the average Louisiana home, at
$184,800. Renting a two-bedroom unit in New Orleans costs
$1,270 per month, which is 27.0% more than the national average of
$1,000 and 7.1% more than the state average of
$1,180.
Can I afford New Orleans?
To live comfortably in New Orleans (zip 70116), Louisiana, a minimum annual income of
$63,360 for a family, and
$43,200 for a single person is recommended.
What does A.I. say about New Orleans?
The cost of living in 70116 New Orleans, LA is relatively low compared to other major cities in the United States. The median home price in this area is about $235,000, with rent for a one-bedroom apartment averaging around $1,000 per month. Food and groceries are also fairly inexpensive, making it easy to find affordable options. The average utility bill for a single-family home in this area is roughly $150. Transportation costs can be kept low due to the city's public transit system, though owning a car will require additional expenses. Overall, the cost of living in 70116 New Orleans, LA can be considered very reasonable in comparison to similar areas throughout the country.