For-Lease Area, New Orleans, LA—70112
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — For-Lease Area, New Orleans, LA
As of Oct '25, the median home price in For-Lease Area, New Orleans, LA is $325,000, with a year-over-year change of -7.3%. This indicates that home prices in For-Lease Area, New Orleans, LA are decreasing. According to Zillow, the 1-year price projection is -1.6%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $325,000 | -7.3% |
| Single Family | $353,000 | -12.8% |
| Condos | $316,000 | -2.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $260,000 | 1.2% |
2 Bed | $387,000 | -1.3% |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — For-Lease Area, New Orleans, LA
As of July '25, Rentcast reports the average rent in For-Lease Area, New Orleans, LA is $2,200, with a year-over-year rent change of 5.3%. Per bedroom, the median rent as of July '25 in For-Lease Area, New Orleans, LA is studios: $2,080, 1-bedrooms: $1,960, 2-bedrooms: $2,590, 3-bedrooms: $3,080, 4-bedrooms: $6,000. The most common rental property sizes in For-Lease Area, New Orleans, LA are 1-bedroom and 2-bedroom, accounting for 47.9% and 28.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,190 | $2,200 |
| Studio Rent | $2,300 | $2,080 |
| 1 Bed Rent | $2,180 | $1,960 |
| 2 Bed Rent | $2,750 | $2,590 |
| 3 Bed Rent | $2,600 | $3,080 |
| 4 Bed Rent | $6,000 | $6,000 |
% of Rental Stock
Property Listings — For-Lease Area, New Orleans, LA
As of Oct '25, Realtor.com reports that the median days on market for a home in For-Lease Area, New Orleans, LA is 149. This is a increase of 15.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $375,000 | -11.0% |
Listing Count | 50 | -6.0% |
| Listings as % of Homes | 1.6% | -6.0% |
Days on Market | 149 | 15.0% |
Demographics — For-Lease Area, New Orleans, LA
As of the latest ACS Survey released in 2023, For-Lease Area, New Orleans, LA has a population of 3,650, which has increased by 30.6% over the past 5 years. For-Lease Area, New Orleans, LA is a less popular place for families, as children make up 12.6% of the population. The area has a moderately educated workforce, with 43.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,650 | 30.6% |
% Under 18 | 12.6% | -19.2% |
% Seniors | 10.9% | 18.5% |
% WFH | 11.4% | 28.1% |
% w/ College Degree | 43.8% | -22.3% |
As of the latest ACS Survey released in 2023, For-Lease Area, New Orleans, LA is a predominantly black area, with 48.5% of the population identifying as black. The black population has grown by 25.3% in the last 5 years. The second most common race or ethnicity in For-Lease Area, New Orleans, LA is white, making up 32.3% of the population. Foreign-born residents account for 11.7% of the population in For-Lease Area, New Orleans, LA, and this percentage has increased by 15.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 32.3% | -29.9% |
% Black | 48.5% | 25.3% |
% Hispanic | 6.4% | -30.4% |
% Asian | 9.1% | 71.7% |
% Foreign Born | 11.7% | 15.8% |
Mortgage and Risk — For-Lease Area, New Orleans, LA
According to HUD data as of 2023, there were 76 mortgage originations in For-Lease Area, New Orleans, LA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in For-Lease Area, New Orleans, LA. Investor activity is low, as 11.0% of loans were by investors. 1.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 76 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 11.0% |
% Second Loans | 42.0% |
% Cash Out Refinance | 1.0% |
Loan Activity
Rentals and Section 8 — For-Lease Area, New Orleans, LA
As of 2024, the percent of homes in For-Lease Area, New Orleans, LA under the Section 8 program is 31.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In For-Lease Area, New Orleans, LA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 914 |
Total Units Section 8 | 649 |
% Rentals under Section 8 | 31.6% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$950 | $2,180 | $1,230 |
| 2 Bedroom | -$1,280 | $2,750 | $1,470 |
| 3 Bedroom | -$720 | $2,600 | $1,880 |
| 4 Bedroom | -$3,790 | $6,000 | $2,210 |
Affordability — For-Lease Area, New Orleans, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 18.2 |
| Median Home Price | $325,000 |
| Median Household Income | $23,100 |