The housing market in 70119 New Orleans, LA is quite stable and attractive for potential home buyers. The median value of a home in this area is $305,600, significantly lower than the US average of $338,100. However, while the national house appreciation rate has been 8.27% over the past year, homes in 70119 have appreciated at a slightly slower rate of 6.11%. This means that although these homes may not appreciate as quickly as those elsewhere in the country, they still remain a valuable investment for potential buyers due to their low initial cost and steady appreciation rate.
The median home cost in New Orleans (zip 70119) is $305,600. Home appreciation the last 10 years has been 74.3%. Home Appreciation in New Orleans (zip 70119) is up 9.2%.
Average Age of Homes
- The median age of New Orleans (zip 70119) real estate is 78 years old
The Rental Market in New Orleans (zip 70119)
- Renters make up 51.2% of the New Orleans (zip 70119) population
- 2.9% of houses and apartments in New Orleans (zip 70119), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.