New Orleans has experienced a modest population increase of 0.42% year-over-year, bringing the total to approximately 966,230 residents. This follows a notable decline from a peak of 1,261,726 in 2021, reflecting a trend of net migration into the area, which totaled 7,585 individuals. The median household income stands at $62,373, with an unemployment rate of 5% and total employment reaching 462,957. The renter share is significant at 38.3%, indicating a robust demand for housing in the multifamily sector.
In terms of multifamily fundamentals, the HUD Fair Market Rent for a two-bedroom unit is $1,771, which is below the current asking rent of $1,478, suggesting a competitive rental market. Year-over-year multifamily rent growth is reported at 3.6%, aligning closely with the 50-market median growth of 3.5%. The median gross rent is $1,262, reflecting the ongoing affordability challenges faced by renters in the market, despite the positive rent growth momentum.
Capital markets for New Orleans show multifamily cap rates at 8.11%, which is roughly 107 basis points higher than the national median of 7.04%. Over the trailing 24 months, there have been 80 transactions with a total volume of approximately $30.98 million and a median price per unit of $300,000, representing a 50% premium compared to the national benchmark. This pricing dynamic, along with stable cap rates, suggests a cautious yet active investment environment. CBRE Research notes that the multifamily sector continues to attract interest, driven by the underlying demographic trends and rental demand.
Figures assembled automatically from public property records, third-party listing feeds, licensed market data, and federal sources (HUD, Census, BLS).
ELMWOOD, LA. — RNGD has begun vertical construction on The Francis, a 251-unit multifamily development located in Elmwood, about nine miles west of New Orleans. The project will replace a former Kmart store at Elmwood Center, a 1 million-square-foot open-air shopping center. Construction is slated for completion in spring 2028.…
NEW ORLEANS — PENN Entertainment Inc. plans to invest approximately $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino operations to a new landside property on adjacent land, pending regulatory approval. If approved, the publicly traded gaming company will rebrand the property, which is expected to…
Southwestern Ontario, Greater New Orleans and Michigan deliver what’s on your table.
A Miami-based company filed for bankruptcy amid a yearslong legal battle over the redevelopment and demolition of a vacant New Orleans affordable housing complex. Granaio LLC, which is owned by Joshua Bruno, petitioned for Chapter 11 reorganization in Miami federal court on June 24, listing $37 million in assets and…
| Sold | Address | Type | Units | Price | $/Unit |
|---|---|---|---|---|---|
| 2024-12-13 | 361 Avenue B, Westwego, LA 70094 | Multifamily | 1 | $145K | $145,000 |
| 2024-12-10 | 608 Governor Hall St, Gretna, LA 70053 | Multifamily | 1 | $1.1M | $1,100,000 |
| 2024-12-10 | 11 Airlie St, Harvey, LA 70058 | Multifamily | 1 | $226K | $225,500 |
| 2024-12-06 | 1105-07 Tallow Tree Ln, Harvey, LA 70058 | Multifamily | 1 | $215K | $215,000 |
| 2024-12-06 | 2718 Acron St, Kenner, LA 70062 | Multifamily | 1 | $222K | $221,500 |
| 2024-12-06 | 3710 Dumaine St, New Orleans, LA 70119 | Multifamily | 1 | $640K | $640,000 |
| 2024-12-06 | 501 Metairie Rd, Metairie, LA 70005 | Multifamily | 1 | $1.4M | $1,400,000 |
| 2024-12-06 | 2909 Constance St, New Orleans, LA 70115 | Multifamily | 1 | $676K | $676,000 |
| 2024-12-06 | 3755 Cypress St, Metairie, LA 70001 | Multifamily | 1 | $273K | $273,000 |
| 2024-12-06 | 821 Joseph St, New Orleans, LA 70115 | Multifamily | 1 | $375K | $375,000 |
| 2024-12-05 | 2616 Kingston St, Kenner, LA 70062 | Multifamily | 1 | $229K | $229,000 |
| 2024-12-03 | 4205 S Johnson St, New Orleans, LA 70125 | Multifamily | 1 | $280K | $280,000 |
| 2024-12-02 | 2323 Peniston St, New Orleans, LA 70115 | Multifamily | 1 | $150K | $150,000 |
| 2024-11-27 | 1940 Pauger St, New Orleans, LA 70116 | Multifamily | 1 | $120K | $120,000 |
| 2024-11-27 | 4901 W Napoleon Ave, Metairie, LA 70001 | Multifamily | 1 | $415K | $415,000 |
| 2024-11-27 | 5 Crane St, New Orleans, LA 70124 | Multifamily | 1 | $375K | $375,000 |
| 2024-11-27 | 8926 Oleander St, New Orleans, LA 70118 | Multifamily | 1 | $218K | $218,000 |
| 2024-11-26 | 2306 Audubon St, New Orleans, LA 70125 | Multifamily | 1 | $475K | $475,000 |
| 2024-11-26 | 4635 Lynhuber Dr, New Orleans, LA 70126 | Multifamily | 1 | $300K | $300,000 |
| 2024-11-26 | 4920 Rhodes Dr, New Orleans, LA 70126 | Multifamily | 1 | $300K | $300,000 |
| 2024-11-25 | 2509 Arts St, New Orleans, LA 70117 | Multifamily | 1 | $120K | $120,000 |
| 2024-11-25 | 5234-36 Pitt St, New Orleans, LA 70115 | Multifamily | 1 | $725K | $725,000 |
| 2024-11-25 | 3115 Chippewa St, New Orleans, LA 70115 | Multifamily | 1 | $270K | $270,000 |
| 2024-11-25 | 2817 Dumaine St, New Orleans, LA 70119 | Multifamily | 1 | $295K | $295,000 |
| 2024-11-22 | 6215 Warrington Dr, New Orleans, LA 70122 | Multifamily | 1 | $355K | $355,000 |
| 2024-11-22 | 5656 General Haig St, New Orleans, LA 70124 | Multifamily | 1 | $435K | $435,000 |
| 2024-11-21 | 6558 Louisville St, New Orleans, LA 70124 | Multifamily | 1 | $478K | $477,500 |
| 2024-11-20 | 2733 Bruxelles St, New Orleans, LA 70119 | Multifamily | 1 | $560K | $560,000 |
| 2024-11-19 | 2924 Louisiana Ave, New Orleans, LA 70115 | Multifamily | 1 | $105K | $105,000 |
| 2024-11-18 | 2105 Burnell Ct, Metairie, LA 70001 | Multifamily | 1 | $327K | $327,000 |
| 2024-11-15 | 4025 Alberta St, Metairie, LA 70001 | Multifamily | 1 | $290K | $290,000 |
| 2024-11-15 | 2204 Caswell Ln, Metairie, LA 70001 | Multifamily | 1 | $338K | $338,000 |
| 2024-11-15 | 2730 Saint Ann St, New Orleans, LA 70119 | Multifamily | 1 | $115K | $115,000 |
| 2024-11-15 | 2304 Caswell Ln, Metairie, LA 70001 | Multifamily | 1 | $348K | $348,000 |
| 2024-11-15 | 2301 Caswell Ln, Metairie, LA 70001 | Multifamily | 1 | $348K | $348,000 |
| 2024-11-15 | 2300 Caswell Ln, Metairie, LA 70001 | Multifamily | 1 | $348K | $348,000 |
| 2024-11-15 | 2216 Caswell Ln, Metairie, LA 70001 | Multifamily | 1 | $348K | $348,000 |
| 2024-11-09 | 1240 Marshall Dr, Marrero, LA 70072 | Multifamily | 1 | $153K | $153,000 |
| 2024-11-08 | 2800 Thalia St, New Orleans, LA 70113 | Multifamily | 1 | $140K | $140,000 |
| 2024-11-07 | 14 Jasmine Ln, Saint Rose, LA 70087 | Multifamily | 1 | $119K | $119,000 |
| 2024-11-07 | 6569 Avenue A, New Orleans, LA 70124 | Multifamily | 1 | $376K | $376,000 |
| 2024-11-06 | 1025 Dumaine St, New Orleans, LA 70116 | Multifamily | 6 | $2.1M | $352,729 |
| 2024-11-06 | 1041 Dumaine St, New Orleans, LA 70116 | Multifamily | 1 | $2.1M | $2,116,375 |
| 2024-11-06 | 4017 Alberta St, Metairie, LA 70001 | Multifamily | 1 | $295K | $295,000 |
| 2024-11-06 | 4013 Alberta St, Metairie, LA 70001 | Multifamily | 1 | $295K | $295,000 |
| 2024-11-06 | 910 Gallier St, New Orleans, LA 70117 | Multifamily | 1 | $155K | $155,336 |
| 2024-11-05 | 419-21 Second St, New Orleans, LA 70130 | Multifamily | 1 | $280K | $280,000 |
| 2024-11-04 | 1605 Lake Ave, Metairie, LA 70005 | Multifamily | 6 | $425K | $70,833 |
| 2024-11-04 | 1635 Lake Ave, Metairie, LA 70005 | Multifamily | 1 | $242K | $242,000 |
| 2024-11-01 | 1132 Athania Pkwy, Metairie, LA 70001 | Multifamily | 1 | $330K | $330,000 |
Recorded multifamily sales from public property records and third-party listing feeds over the trailing 24 months — a partial sample, not an exhaustive market index. Sources & methodology →
IntellCRE pairs this public market data with AI-powered underwriting, comps, and deal marketing. Book a walkthrough and see how fast you can underwrite your next acquisition.
Free commercial real estate market reports — demographics, cap rates, rent growth, and recent sale comps — for the 50 largest U.S. metros.