Rental market data · 2024 Census estimates

New Orleans, LA rental yield and cash flow

In the New Orleans-Metairie, LA metro, the median owner-occupied home was valued at $267,900 and the median gross rent was $1,262 a month in 2024. That is a gross rent yield of 5.65%, rank 12 of the 100 largest metros we track.

$267,900Median home value (±$5,382)

$1,262Median gross rent / mo (±$38)

5.65%Gross rent yield

17.7Price-to-rent ratio

0.61%Median taxes ÷ median value

38%Renter-occupied homes

0.47%Monthly rent ÷ price (1% rule)

0.97MMetro population

Does the median home cash flow at today's rate?

We priced a hypothetical rental at the metro medians: $267,900 purchase, $1,262 rent, 25% down, a 30-year loan at 7.28% (Freddie Mac's 30-year average for the week of October 1, 2026), $1,636 in annual property taxes, insurance at 0.5% of price, and 5% vacancy, 10% repairs and 8% management.

At these assumptions the median-priced home runs about $651 a month short of covering its costs (DSCR 0.53). Rent would need to reach about $2,107, 67% above the median, to break even, or the price would need to be near $122,291 for a 1.25 DSCR. Net operating income is about $8,685 a year, a 3.24% cap rate, against $16,497 of annual debt service.

Investment-property loans usually price above the owner-occupant average this survey reports, and your insurance quote, tax bill and rent will differ from a metro median. Change any input below.

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How New Orleans compares

Metros with the nearest gross yields among the 100 we track. * Cash flow uses the same assumptions as above.

Rank	Metro	Median value	Median rent	Gross yield	Price-to-rent	Cash flow / mo*
9	Birmingham, AL	$263,900	$1,262	5.74%	17.4	-$604
10	Augusta, GA-SC	$262,100	$1,243	5.69%	17.6	-$623
11	Cape Coral, FL	$396,500	$1,871	5.66%	17.7	-$1,017
12	New Orleans, LA	$267,900	$1,262	5.65%	17.7	-$651
13	Pittsburgh, PA	$230,300	$1,083	5.64%	17.7	-$675
14	Memphis, TN-MS-AR	$282,900	$1,330	5.64%	17.7	-$704
15	San Antonio, TX	$304,800	$1,422	5.60%	17.9	-$955

What these numbers leave out

Census gross rent includes utilities when the tenant pays them, so it can overstate what a landlord collects. Median value describes owner-occupied homes, not the rental stock, and a metro median hides wide neighborhood differences. Treat this page as a screen, then underwrite the specific property.

Sources

U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25064 (median gross rent)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25077 (median value, owner-occupied housing units)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25103 (median real estate taxes paid)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25003 (housing tenure)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B01003 (total population)
Freddie Mac Primary Mortgage Market Survey (30-year fixed average, week of October 1, 2026)

Data snapshot October 7, 2026. Methodology: all metros.