925 Common
925 Common St,
New Orleans, LA 70112
Studio - 2 Beds | $1,325 - $2,450
Rental Market Trends in New Orleans, LA
Updated August 2026
The average rent in New Orleans, LA is $1,280/month.
Rent in New Orleans is 23% lower than the national average rent of $1,663/month, making this one of the less expensive cities statewide.
$1,280/month
Average Rent
715 Sq Ft
Average Size
+0.4%
Change / Year
3,700
Available Apartments
New Orleans rent varies by unit size and layout:
- Studio apartments in New Orleans average $1,127 per month.
- One-bedroom apartments in New Orleans average $1,280 per month.
- Two-bedroom apartments in New Orleans average $1,476 per month.
- Three-bedroom apartments in New Orleans average $1,559 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in New Orleans, LA?
In the past year, rent has increased by 0.4%, which averages out to $5 more per month.
Market Trends Over Time
August 2026
2025
2026
Rent Ranges in New Orleans, LA
August 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
28%
$700 - $1,000/month
30%
$1,001 - $1,500/month
22%
$1,501 - $2,000/month
18%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in New Orleans?
Based on current rent prices, West Lake Forest, Read Boulevard East and Little Woods are the most affordable neighborhoods in New Orleans.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in New Orleans?
Based on current rent prices, Iberville, Irish Channel and Lower Garden District are the most expensive neighborhoods in New Orleans.
Neighborhood
Average Rent
Average Sq Ft
Which New Orleans neighborhoods have the most rentals available?
The neighborhoods in New Orleans with the most apartments available are New Orleans CBD, Warehouse District and Downtown New Orleans .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in New Orleans, LA?
Because the average rent in New Orleans is $1,280, you’ll want to make about $4,266 per month or $51,192 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in New Orleans, LA is 13.7% higher than the national average. Generally, housing in New Orleans is 52.4% more expensive than the national average, with rent falling between $1,127 - $1,559. You can expect to pay 0.6% less for groceries, 27.4% less for utilities, and 4.4% less for transportation.
How does New Orleans, LA compare to other nearby cities and neighborhoods?
Use the tool below to compare New Orleans, LA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the New Orleans Area GuideStudio
-
-
One Bedroom
$832/month
$1,313/month
Two Bedroom
$884/month
$1,653/month
Three Bedroom
$1,135/month
-
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in New Orleans?
The average rent in New Orleans is $1,280 per month, which is 23.0% lower than the national average of $1,663.
What is the average rent for a house in New Orleans?
The average rent for a house in New Orleans, LA is $2,058 per month.
What is the average rent for a townhome in New Orleans?
The average rent for a townhome in New Orleans, LA is $1,619 per month.
What is the average rent for a condo in New Orleans?
The average rent for a condo in New Orleans, LA is $1,556 per month.
Are rents going up or down in New Orleans?
Rents in New Orleans, LA are increasing, with prices up 0.4% year-over-year and $5 more per month.
What rent range is most common in New Orleans?
In New Orleans, LA, 30% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.