In short
The median value of owner-occupied homes in the city of New Orleans is $305,100, according to the Census Bureau’s 2024 American Community Survey. The FHFA index for the New Orleans–Metairie area shows prices down 0.5% over the year to the second quarter of 2026. The City of New Orleans offers first-time buyers up to $55,000 in down payment help, as of its page updated July 31, 2026.
How much homes cost in New Orleans
The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on Louisiana home prices explains the method in detail.
| Area | Median value, 2024 (ACS) | Margin of error (90%) |
|---|---|---|
| City of New Orleans | $305,100 | ±$17,943 |
| Orleans Parish | $305,100 | ±$17,943 |
| New Orleans–Metairie metro area | $267,900 | ±$5,382 |
| Louisiana | $223,200 | ±$2,575 |
| United States | $360,600 | ±$618 |
Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077. The 2025 estimates are scheduled for October 29, 2026.
Are New Orleans prices rising?
The Federal Housing Finance Agency (FHFA) tracks repeat sales of the same single-family homes. Its purchase-only, seasonally adjusted index for the New Orleans–Metairie area, published August 25, 2026, shows:
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| New Orleans–Metairie metro area | −0.5% | +7.9% |
| Louisiana | +1.6% | +16.3% |
| United States | +2.1% | +33.4% |
Source: FHFA House Price Index, quarterly purchase-only files. Changes calculated by Payotte from the published index values.
Prices in the New Orleans area were essentially flat over the past year and rose far less over five years than in the nation as a whole.
Help for buyers in New Orleans
Two public programs cover purchases in Orleans Parish. Both are for first-time buyers, which means no home owned in the past three years. Our first-time buyer programs page has the full comparison.
| Program | What it offers | Main limit |
|---|---|---|
| City of New Orleans, Direct Homebuyer Soft Second Mortgage Assistance | Up to $55,000 in down payment help, or up to $5,000 for closing costs | Income at or below 80% of area median; maximum sales price $324,000 in Orleans Parish |
| Louisiana Housing Corporation, HomeStart Plus | Up to 20% of the price (maximum $55,000) plus up to $5,000 for closing costs | Income at or below 80% of HUD median; homes in Special Flood Hazard Areas are not eligible |
Sources: City of New Orleans Office of Community Development; Louisiana Housing Corporation.
HUD’s 2026 median family income for New Orleans is $88,600, effective June 1, 2026. At 80%, the City’s chart gives $49,650 for one person, $63,850 for three people and $70,900 for four people. The City reported $1,000,000 of federal Community Development Block Grant funds available as of January 2026, so ask whether money remains before you rely on it.
The City’s price cap of $324,000 sits above the $305,100 median, so a median-priced home fits, but many homes will not. HomeStart Plus follows the applicable FHA loan limit instead.
Closing costs, property tax and transfer tax
On top of the price, buyers and sellers pay closing costs. Several depend on your loan and the providers you choose, so there is no single official figure. The rules and a worked example are in our guide to closing costs in Louisiana. Property tax and transfer tax have their own pages: property tax in Louisiana and transfer tax in Louisiana. We do not repeat those figures here, so they stay consistent across the site.
Louisiana guides for New Orleans buyers
- Closing costs in Louisiana
- Property tax in Louisiana
- Seller disclosure in Louisiana
- Do you need a real estate attorney in Louisiana?
- Foreclosure in Louisiana
- First-time buyer programs in Louisiana
- Community property and buying a home
- Natural hazards and insurance in Louisiana
- How to verify a license in Louisiana
- The steps of buying a home
Frequently asked questions
What is the median home price in New Orleans?
The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in the city of New Orleans at $305,100 (±$17,943). This is what owners think their home is worth, not the median sale price of recent sales.
Are home prices in New Orleans going down?
According to the FHFA purchase-only index, prices in the New Orleans–Metairie area fell 0.5% between the second quarter of 2025 and the second quarter of 2026, which is essentially flat. Over five years, they rose 7.9%.
Is there down payment help in New Orleans?
Yes. The City’s Direct Homebuyer program offers up to $55,000 for first-time buyers at or below 80% of area median income, and the state’s HomeStart Plus offers up to $55,000 plus up to $5,000 for closing costs in Orleans Parish. Both have income limits and funding caps.
Can I use HomeStart Plus on a home in a flood zone?
Not if the home is in a Special Flood Hazard Area. The Louisiana Housing Corporation says properties in Flood Zones A, AE or V are not eligible. See our page on natural hazards and insurance for flood risk.
Is Orleans Parish the same as the city of New Orleans?
For ACS home values, the Census Bureau reports the same median ($305,100) and margin of error for both. The metro area is larger and includes the surrounding parishes.
More Louisiana guides
- Closing costs in Louisiana: what buyers and sellers pay
- Real estate transfer tax in Louisiana and New Orleans
- Louisiana property tax: 10% assessment and homestead exemption
- Seller disclosure requirements in Louisiana
- Do you need an attorney or notary to close in Louisiana?
- Foreclosure process in Louisiana: executory process explained
- Home prices in Louisiana and New Orleans: median value and trend
- First-time home buyer programs in Louisiana: LHC and New Orleans
- How to verify a real estate license in Louisiana
- Louisiana community property and buying a home as a couple
- Hurricanes, flood and home insurance in Louisiana
Sources
- Table B25077, Median Value (Dollars), ACS 1-Year Estimates 2024 (U.S. Census Bureau) (consulted October 13, 2026)
- 2025 ACS Data Release Schedule (U.S. Census Bureau) (consulted October 13, 2026)
- U.S. House Prices Rise 2.1 Percent Year over Year, Up 0.3 Percent Quarter over Quarter (FHFA, August 25, 2026) (consulted October 13, 2026)
- FHFA House Price Index datasets, quarterly purchase-only indexes (state, metro) (consulted October 13, 2026)
- Direct Homebuyer Assistance Program (City of New Orleans Office of Community Development) (consulted October 13, 2026)
- 2026 New Orleans HUD Median Family Income and income limits (City of New Orleans) (consulted October 13, 2026)
- HomeStart Plus (Louisiana Housing Corporation) (consulted October 13, 2026)
- HomeStart Plus Eligible Parishes by Hurricane (LHC / eHousing Plus) (consulted October 13, 2026)