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October 5, 2021

The pandemic had an impact on rent prices in major cities and neighborhoods across the U.S. To quantify the impact, we’re focusing attention on some of the major cities and neighborhoods in the U.S. We will be presenting our findings in a series of year-over-year neighborhood snapshots.

The subject of today’s snapshot is for New Orleans, Louisiana. Based on our analysis, New Orleans’ year-over-year average rents saw no major change across all bedroom types.

Our standard neighborhood analysis uses a 12-month “LookBack” to establish an average baseline rent. The results from the 12-month LookBack analysis are presented in the tables below for New Orleans’ 1-3 bedroom rents from October 1, 2020 – October 1, 2021:


 

As the table shows, 1BR units only had an increase of $3 more from last year. The 2BR units decreased by $6 less, and 3BR units decreased their rents by 3% or $47 less. As demonstrated by the table, year-over-year performance for all bedroom types saw no major change in rent.

 

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This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.