Elmwood, New Orleans, LA—70117
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elmwood, New Orleans, LA
As of Oct '25, the median home price in Elmwood, New Orleans, LA is $165,000, with a year-over-year change of -6.4%. This indicates that home prices in Elmwood, New Orleans, LA are decreasing. According to Zillow, the 1-year price projection is -5.0%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $165,000 | -6.4% |
| Single Family | $163,000 | -5.8% |
| Condos | $301,000 | -1.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $180,000 | -7.7% |
2 Bed | $155,000 | -7.2% |
3 Bed | $157,000 | -4.8% |
4 Bed | $171,000 | -6.6% |
| 5 Bed | $203,000 | -6.5% |
% of Housing Stock
Rental Trends — Elmwood, New Orleans, LA
As of July '25, Rentcast reports the average rent in Elmwood, New Orleans, LA is $1,660, with a year-over-year rent change of -1.2%. Per bedroom, the median rent as of July '25 in Elmwood, New Orleans, LA is studios: $1,380, 1-bedrooms: $1,370, 2-bedrooms: $1,600, 3-bedrooms: $1,840, 4-bedrooms: $2,250. The most common rental property sizes in Elmwood, New Orleans, LA are 2-bedroom and 1-bedroom, accounting for 47.4% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,660 |
| Studio Rent | $1,250 | $1,380 |
| 1 Bed Rent | $1,350 | $1,370 |
| 2 Bed Rent | $1,500 | $1,600 |
| 3 Bed Rent | $1,750 | $1,840 |
| 4 Bed Rent | $2,100 | $2,250 |
% of Rental Stock
Property Listings — Elmwood, New Orleans, LA
As of Oct '25, Realtor.com reports that the median days on market for a home in Elmwood, New Orleans, LA is 93. 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | 2.0% |
Listing Count | 193 | -7.0% |
| Listings as % of Homes | 0.9% | -7.0% |
Days on Market | 93 | 15.0% |
Demographics — Elmwood, New Orleans, LA
As of the latest ACS Survey released in 2023, Elmwood, New Orleans, LA has a population of 26,200, which has decreased by -2.9% over the past 5 years. Elmwood, New Orleans, LA is a moderately popular place for families, as children make up 18.9% of the population. The area has a moderately educated workforce, with 34.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,200 | -2.9% |
% Under 18 | 18.9% | 0.0% |
% Seniors | 14.3% | -2.7% |
% WFH | 14.4% | 193.9% |
% w/ College Degree | 34.9% | 46.6% |
As of the latest ACS Survey released in 2023, Elmwood, New Orleans, LA is a predominantly black area, with 60.6% of the population identifying as black. The black population has shrunk by 13.1% in the last 5 years. The second most common race or ethnicity in Elmwood, New Orleans, LA is white, making up 29.6% of the population. Foreign-born residents account for 4.6% of the population in Elmwood, New Orleans, LA, and this percentage has increased by 64.3% 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 | 29.6% | 23.3% |
% Black | 60.6% | -13.1% |
% Hispanic | 4.6% | 12.2% |
% Asian | 0.4% | -42.9% |
% Foreign Born | 4.6% | 64.3% |
Mortgage and Risk — Elmwood, New Orleans, LA
According to HUD data as of 2023, there were 311 mortgage originations in Elmwood, New Orleans, LA, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Elmwood, New Orleans, LA. Investor activity is low, as 13.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 311 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 13.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Elmwood, New Orleans, LA
As of 2024, the percent of homes in Elmwood, New Orleans, LA under the Section 8 program is 32.7%. 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 Elmwood, 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 | 2,141 |
Total Units Section 8 | 2,087 |
% Rentals under Section 8 | 32.7% |
% Occupied Section 8 | 96.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$230 | $1,350 | $1,120 |
| 2 Bedroom | -$160 | $1,500 | $1,340 |
| 3 Bedroom | -$40 | $1,750 | $1,710 |
| 4 Bedroom | -$90 | $2,100 | $2,010 |
Affordability — Elmwood, New Orleans, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $165,000 |
| Median Household Income | $41,600 |