Orleans Parish Louisiana Residential Rent and Rental Statistics
The median monthly gross residential rent in Orleans Parish LA was $1,010 in 2019 according to the Census ACS survey.1 Average gross rent in Orleans Parish was $986 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Orleans Parish median and average rent data will be released in September of 2021.
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.
Real Gross Rent in Orleans Parish Louisiana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Louisiana Median Gross Rent | $866 | -0.35% | +2.36% |
| Orleans Parish LA Median Gross Rent | $1,010 | -0.10% | +3.27% |
Orleans Parish LA Real Gross Rent Trends
Median gross rent for Orleans Parish peaked in real terms in 2008 at $1,075 and is now $65 (6.05%) lower. Average gross rent for Orleans Parish peaked in real terms in 2008 at $1,077 and is now $91 (8.45%) lower.
Real Gross Rent: Orleans Parish LA Median, Orleans Parish LA Average, Louisiana Median, US Median
Real Gross Rent History for Orleans Parish
| Date | US Median |
Louisiana Median |
Orleans Parish LA Median |
Orleans Parish LA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $866 | $1,010 | $986 |
| 2018 | $1,077 | $869 | $1,011 | $985 |
| 2017 | $1,043 | $862 | $992 | $1,003 |
| 2016 | $1,027 | $846 | $978 | $1,002 |
| 2015 | $1,017 | $849 | $1,005 | $1,018 |
| 2014 | $986 | $846 | $958 | $967 |
| 2013 | $953 | $803 | $974 | $986 |
| 2012 | $940 | $795 | $916 | $928 |
| 2011 | $941 | $807 | $987 | $972 |
| 2010 | $955 | $822 | $1,002 | $998 |
| 2009 | $960 | $815 | $1,004 | $1,035 |
| 2007 | $927 | $765 | $1,048 | $976 |
| 2005 | $910 | $711 | $738 | $743 |
Orleans Parish Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Orleans Parish Louisiana was 7.03% according to Census ACS data.
Rental Vacancy Rate in Orleans Parish Louisiana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Louisiana | 8.34% | -0.37% | -0.10% |
| Orleans Parish LA | 7.03% | -1.08% | -1.24% |
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 8.80% to 7.03%. Data records for this series originated in 2005. From a 2015 post peak low of 6.64%, the rental vacancy rate has increased by 0.39%.
Rental Vacancy Rate: Orleans Parish LA, Louisiana, US
Historical Rental Vacancy Rate data for Orleans Parish
| Date | US | Louisiana | Orleans Parish LA |
|---|---|---|---|
| 2019 | 5.97% | 8.34% | 7.03% |
| 2018 | 6.15% | 8.71% | 8.11% |
| 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% |
| 2007 | 7.87% | 7.18% | 11.69% |
| 2005 | 7.74% | 7.89% | 9.07% |
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 26.57% in 2019 according to the ACS.
Orleans Parish Louisiana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Louisiana | 20.35% | -1.04% | -1.13% |
| Orleans Parish LA | 26.57% | -4.44% | -2.41% |
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 4.73% to 26.57%.
Fraction of Income towards Rent: Orleans Parish LA, Louisiana, US
Historical Data for Annual Rent as a Fraction of Income in Orleans Parish Louisiana
| Date | US | Louisiana | Orleans Parish LA |
|---|---|---|---|
| 2019 | 20.03% | 20.35% | 26.57% |
| 2018 | 20.50% | 21.39% | 31.01% |
| 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% |
| 2007 | 18.66% | 19.09% | 27.72% |
| 2005 | 18.89% | 18.59% | 23.05% |
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 2019 50.41% of households were renters according to Census ACS data.
Orleans Parish Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Louisiana | 33.51% | -1.01% | -2.23% |
| Orleans Parish LA | 50.41% | -1.25% | -3.26% |
Trends in the Orleans Parish LA Renter Fraction
The Orleans Parish household renter fraction peaked in in 2011 at 54.60% and is now 4.19% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Orleans Parish LA, Louisiana, US
History of Orleans Parish Renter Fraction
| Date | US | Louisiana | Orleans Parish LA |
|---|---|---|---|
| 2019 | 35.89% | 33.51% | 50.41% |
| 2018 | 36.05% | 34.52% | 51.66% |
| 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% |
| 2007 | 32.80% | 32.06% | 48.43% |
| 2005 | 33.10% | 32.19% | 50.00% |
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. ↩
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