There are currently 112,940 real estate properties in New Orleans, LA, with a median automated valuation model (AVM) price of $280,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in New Orleans, LA, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in New Orleans, LA, is $380,857.00, with the most expensive house in New Orleans, LA, topping out at $19,737,700.00 and the cheapest home in New Orleans, LA, clocking in at $13,400.00. In other words, there’s something for every potential homebuyer or savvy investor in New Orleans, LA!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in New Orleans, LA, is on a rollercoaster ride. The average rent price in New Orleans, LA, is $1,680.00. Indeed, when looking to rent in New Orleans, LA, you can expect to pay as little as $680.00 or as much as $4,520.00, with the average rent median estimated to be $1,540.00. The good news is that finding an affordable and desirable property to rent in New Orleans, LA -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the New Orleans, LA area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in New Orleans, LA and much more. Save thousands at closing with home foreclosure listings in New Orleans, LA — up to 75% off market value!
New Orleans is located in Orleans, Louisiana, with an estimated municipal population of 390,144 residents. All of the best foreclosed homes for sale in New Orleans are located in the following zip code areas on Foreclosure.com: 70139 70130 70131 70114 70115 70116 70117 70112 70113 70118 70119 70129 70128 70125 70124 70127 70126 70122 70163 70142 70145 70146 70148 70150 70151 70152 70153 70154 70156 70157 70158 70159 70160 70161 70162 70164 70165 70166 70167 70170 70172 70174 70175 70176 70177 70178 70179 70181 70182 70184 70185 70186 70187 70189 70190 70195. The estimated population per square kilometer (.62 miles) in New Orleans is 889.
So, about how much do homes cost in New Orleans? The most recent median value of resident-owned homes in New Orleans is 231,928. An estimated 48.3 percent of households in New Orleans own their homes, with an average family size of 3.66. The median household income in New Orleans is 41,604, with20.9 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in New Orleans, the median commute time of resident workers (in minutes) is 24.2. And last, but certainly not least, are you looking for homes to rent in New Orleans? If so, the average rent price paid by renters in New Orleans is 998, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to New Orleans, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in New Orleans is 36.8, split between 47.5 percent male versus 52.5 female. The percentage of residents who report being married in New Orleans is 29.4, with an average family size of 3.66.
The percentage of residents who report their race in New Orleans is as follows:
|Black / African American||59.5%|
|American Indian / Alaskan Native||0.2%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near New Orleans? Or maybe you are searching for 55+ active adult communities in and/or near New Orleans?
The percentage of residents who report their age in New Orleans is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in New Orleans with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in New Orleans.
How do you know that living in -- or moving to -- New Orleans is right where you need to be? Perhaps you grew up in New Orleans or already live nearby; therefore, the decision to buy a home in New Orleans is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to New Orleans for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in New Orleans:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like New Orleans.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in New Orleans can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in New Orleans, meanwhile, can field multiple offers from more qualified buyers.
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