11 Cheap Apartments for rent in New Orleans, LA

Last updated August 20 at 1:17am UTC
8547 Deerfield Dr
Versailles
Chalmette, LA
Updated July 28 at 2:36pm UTC
2 Bedrooms
$750
Results within 1 miles of New Orleans, LA
Results within 5 miles of New Orleans, LA
204 S Military Rd D
Slidell
Slidell, LA
Updated July 13 at 2:47pm UTC
2 Bedrooms
$750
3300 Garden Oaks Dr
Tall Timbers - Brechtel
New Orleans, LA
Updated August 10 at 5:14pm UTC
2 Bedrooms
$795
3300 Garden Oaks Dr
Tall Timbers - Brechtel
New Orleans, LA
Updated August 10 at 5:14pm UTC
2 Bedrooms
$795
617 Cook St
McDonoughville
Gretna, LA
Updated August 15 at 1:21am UTC
Studio
$500
718 Central Ave
North Suburban Acres
Jefferson, LA
Updated August 20 at 1:17am UTC
1 Bedroom
$725
508 Julius Ave
Jefferson
Jefferson, LA
Updated August 20 at 1:16am UTC
1 Bedroom
$800
Results within 10 miles of New Orleans, LA
671 Central Ave
North Suburban Acres
Jefferson, LA
Updated August 20 at 1:16am UTC
1 Bedroom
$725
2216 Glasgow Dr
Scotsdale
Harvey, LA
Updated August 15 at 1:21am UTC
1 Bedroom
$725

August 2018 New Orleans Rent Report

Welcome to the August 2018 New Orleans Rent Report. New Orleans rents declined over the past month. In this report, we'll evaluate trends in the New Orleans rental market, including comparisons to similar cities nationwide.

View full New Orleans Rent Report
Rent Report
New Orleans

August 2018 New Orleans Rent Report

Welcome to the August 2018 New Orleans Rent Report. New Orleans rents declined over the past month. In this report, we'll evaluate trends in the New Orleans rental market, including comparisons to similar cities nationwide.

New Orleans rents declined slightly over the past month

New Orleans rents have declined 0.2% over the past month, and have decreased moderately by 1.5% in comparison to the same time last year. Currently, median rents in New Orleans stand at $800 for a one-bedroom apartment and $970 for a two-bedroom. New Orleans' year-over-year rent growth lags the state average of -0.4%, as well as the national average of 1.2%.

New Orleans rents more affordable than many large cities nationwide

As rents have fallen moderately in New Orleans, many large cities nationwide have seen prices increase, in some cases substantially. New Orleans is also more affordable than most large cities across the country.

  • New Orleans' median two-bedroom rent of $970 is below the national average of $1,180. Nationwide, rents have grown by 1.2% over the past year compared to the 1.5% decline in New Orleans.
  • While rents in New Orleans fell moderately over the past year, many cities nationwide saw increases, including Phoenix (+2.4%), Atlanta (+1.8%), and San Francisco (+1.1%).
  • Renters will find more reasonable prices in New Orleans than most large cities. For example, San Francisco has a median 2BR rent of $3,090, which is more than three times the price in New Orleans.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.