Rent vs Buy Calculator — New Orleans, LA
Prefilled with New Orleans estimates: a ~$270,000 home (about $54,000 for 20% down) versus ~$1,600/mo rent. Louisiana's effective property tax of 0.56% — well below the U.S. average (~1.1%) — adds roughly $1,512/yr, and typical homeowners insurance runs about $5,000/yr. Adjust every field to your actual home below.
Is it better to rent or buy in New Orleans?
There's no universal answer — it hinges on how long you'll stay, what you'd earn investing the down payment instead, and Louisiana's tax and insurance costs. Property tax is the biggest local lever: at 0.56% on a $270,000 home that's about $1,512 every year, before insurance and maintenance. Use the break-even readout above to see the year buying pulls ahead, and the appreciation rate that flips the decision.
What makes New Orleans, LA different
- Median home price estimate: $270,000
- Typical monthly rent estimate: $1,600
- Louisiana effective property tax: 0.56% (~$1,512/yr here)
- Louisiana avg. homeowners insurance: $5,000/yr
Starting estimates as of 2026-01 — see the methodology & sources.