New Orleans, LA variant. This is a New Orleans, LA-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
Affording a home in New Orleans pits the $51,116 median income against a $270,000 median price - a price-to-income ratio of 5.3x.
Can you afford New Orleans?
The 28% rule caps housing at $1,193/month on the local median income, supporting roughly $235,874 in price - versus the $270,000 New Orleans median.
New Orleans is relatively attainable on the local median income.
About New Orleans, LA
New Orleans applies Louisiana state income tax along with notably high combined state and local sales taxes.
New Orleans offers moderate home prices for a major Southern city.
New Orleans is known for its tourism, port, and rich cultural economy, with a cost of living close to the national average.
Worked example: max price on $51,116
28% of $51,116 ÷ 12 ≈ $1,193/month supports about $235,874 at 6.5% with 20% down - compared with the $270,000 median.
Quick reference
- Median home value: $270,000
- Median rent: $1,650/mo
- Median household income: $51,116
- Local sales tax: 9.45%
- Effective property tax rate: 0.55%
- Cost of living index: 96 (US avg = 100)
Frequently Asked Questions
What income do I need to buy in New Orleans?
To afford the $270,000 median home, you'd typically need well above the $51,116 local median income at current rates.
What is the price-to-income ratio in New Orleans?
About 5.3x (median home ÷ median income).