Department of Numbers

Orleans Parish Louisiana Residential Rent and Rental Statistics

The median monthly gross residential rent in Orleans Parish LA was $962 in 2017 according to the Census ACS survey.1 Average gross rent in Orleans Parish was $973 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Orleans Parish median and average rent data will be released in September of 2019.

Data is also available below for Orleans Parish rental vacancy rates, Orleans Parish rent as a percent of median income and the fraction of renters in Orleans Parish.

Show dollars as: Nominal Real

Real Gross Rent in Orleans Parish Louisiana (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Louisiana Median Gross Rent $836 +1.83% +1.95%
Orleans Parish LA Median Gross Rent $962 +1.37% +3.55%

Orleans Parish LA Real Gross Rent Trends

Median gross rent for Orleans Parish peaked in real terms in 2008 at $1,043 and is now $81 (7.77%) lower. Average gross rent for Orleans Parish peaked in real terms in 2008 at $1,044 and is now $71 (6.80%) lower.

Real Gross Rent: Orleans Parish LA Median, Orleans Parish LA Average, Louisiana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Orleans Parish

Date US
Median
Louisiana
Median
Orleans Parish LA
Median
Orleans Parish LA
Average
2017 $1,012 $836 $962 $973
2016 $996 $821 $949 $972
2015 $987 $823 $974 $988
2014 $956 $820 $929 $938
2013 $924 $779 $945 $956
2012 $912 $771 $888 $900
2011 $912 $782 $957 $943
2010 $927 $798 $972 $968
2009 $931 $790 $974 $1,004
2008 $947 $802 $1,043 $1,044
2007 $899 $742 $1,016 $947
2006 $909 $736 $998 $893

Orleans Parish Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Orleans Parish Louisiana was 8.17% according to Census ACS data.

Rental Vacancy Rate in Orleans Parish Louisiana

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Louisiana 8.74% +0.30% +0.38%
Orleans Parish LA 8.17% -0.10% -1.17%

Trends in Orleans Parish LA Rental Vacancy Rate

The rental vacancy rate in Orleans Parish peaked in 2008 at 15.83%. Since then it has fallen by 7.66% to 8.17%. Data records for this series originated in 2005. From a 2015 post peak low of 6.64%, the rental vacancy rate has increased by 1.53%.

Rental Vacancy Rate: Orleans Parish LA, Louisiana, US

Rental vacancy rate in Louisiana

Historical Rental Vacancy Rate data for Orleans Parish

Date US Louisiana Orleans Parish LA
2017 6.18% 8.74% 8.17%
2016 5.89% 8.44% 8.27%
2015 5.85% 8.30% 6.64%
2014 6.32% 8.36% 9.34%
2013 6.49% 7.64% 7.82%
2012 6.77% 8.55% 11.21%
2011 7.40% 8.15% 8.98%
2010 8.17% 8.98% 14.48%
2009 8.43% 8.19% 13.58%
2008 7.86% 8.20% 15.83%
2007 7.87% 7.18% 11.69%
2006 7.70% 6.36% 7.37%

Rent as a Fraction of Income

Using median household income data for Orleans Parish, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Orleans Parish, median monthly gross rent as a fraction of median household income was 31.20% in 2017 according to the ACS.

Orleans Parish Louisiana Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Louisiana 21.74% +0.26% +0.17%
Orleans Parish LA 31.20% +2.23% +0.55%

Trends in Orleans Parish LA Rent as a Fraction of Income

The fraction of median Orleans Parish household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 31.30%. Since then it has fallen by 0.10% to 31.20%.

Fraction of Income towards Rent: Orleans Parish LA, Louisiana, US

Percent of median household income going towards median monthly gross rent in Orleans Parish Louisiana

Historical Data for Annual Rent as a Fraction of Income in Orleans Parish Louisiana

Date US Louisiana Orleans Parish LA
2017 20.13% 21.74% 31.20%
2016 20.43% 21.48% 28.98%
2015 20.63% 20.99% 29.08%
2014 20.89% 21.57% 30.66%
2013 20.78% 20.73% 30.30%
2012 20.65% 20.87% 30.07%
2011 20.70% 21.48% 31.30%
2010 20.50% 20.78% 28.53%
2009 20.12% 20.19% 28.99%
2008 19.00% 19.15% 28.86%
2007 18.66% 19.09% 27.72%
2006 18.90% 18.85% 28.04%

Renter Fraction in Orleans Parish Louisiana

You can calculate the renter fraction in Orleans Parish in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Orleans Parish as a fraction of total Orleans Parish households. In 2017 52.82% of households were renters according to Census ACS data.

Orleans Parish Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Louisiana 34.82% -0.92% -0.76%
Orleans Parish LA 52.82% -0.85% -1.29%

Trends in the Orleans Parish LA Renter Fraction

The Orleans Parish household renter fraction peaked in in 2011 at 54.60% and is now 1.78% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Orleans Parish LA, Louisiana, US

Fraction of renters in Orleans Parish

History of Orleans Parish Renter Fraction

Date US Louisiana Orleans Parish LA
2017 36.13% 34.82% 52.82%
2016 36.88% 35.74% 53.67%
2015 36.97% 35.42% 53.65%
2014 36.90% 35.58% 54.11%
2013 36.50% 34.03% 54.53%
2012 36.09% 34.27% 52.77%
2011 35.42% 33.57% 54.60%
2010 34.65% 32.45% 49.71%
2009 34.13% 32.08% 48.88%
2008 33.36% 31.46% 47.32%
2007 32.80% 32.06% 48.43%
2006 32.73% 31.52% 49.30%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.