Mortgage Payment Calculator for New Orleans, LA
Updated 2026 · Local data pre-filled
The median home price in New Orleans, LA is $245,000, with an effective property tax rate of 0.55% — below the national average of 1.10%. We've pre-filled the calculator with local figures so your estimate reflects what buyers actually pay in New Orleans.
✓ Calculator below is pre-filled with New Orleans local data
How New Orleans Compares to the National Average
Understanding how New Orleans stacks up helps you calibrate your financial planning.
| Metric | New Orleans, LA | US Average | Difference |
|---|---|---|---|
| Median Home Price | $245,000 | $420,800 | -41.8% |
| Median Monthly Rent | $1,271 | $1,713 | -25.8% |
| Median Household Income | $52,000 | $74,580 | -30.3% |
| Property Tax Rate | 0.55% | 1.10% | -50.0% |
| Cost of Living Index | 96 | 100 | -4.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
New Orleans Financial Snapshot
- Population (Metro)
- 1,290,000
- Unemployment
- 5.4%
- Avg Commute
- 27 min
- Median Age
- 38.1
- Price-to-Rent Ratio
- 16.1x
- Annual Property Tax
- $1,348
Mortgage Payment Calculator in Other Louisiana Cities
Frequently Asked Questions — New Orleans
What is the median home price in New Orleans, LA?
The median home price in New Orleans is $245,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in New Orleans?
Median monthly rent in New Orleans is $1,271. That works out to $15,252/year, or 29% of the median household income — within the commonly recommended 30% of income guideline.
Is New Orleans affordable?
New Orleans's cost of living index is 96 vs. the national average of 100. With a median household income of $52,000/year and a median home price of $245,000, the price-to-income ratio is 4.7x. New Orleans falls in the middle of the affordability spectrum for US cities.
What is the property tax rate in New Orleans?
The effective property tax rate in New Orleans is 0.55% of assessed value. On the median home of $245,000, that's roughly $1,348/year ($112/month).