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Home Affordability Calculator New Orleans, LA — 2026
Median home price in New Orleans: $250,000. At 6.5% on a 30-year loan with 20% down, the estimated total monthly payment (PITI) is $1,523 — requiring $65,271/year in gross income. Enter your income below for a personalised estimate.
Reviewed for accuracy June 2026 by Gary Sing
Median home price
$250,000
Income needed (annual)
$65,271
Est. monthly PITI
$1,523
Property tax/month
$165
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How much house can you afford in New Orleans at your salary?
Maximum home price at each income level: 6.5% rate, 30-year term, 20% down payment, no existing debt. Property tax (0.79%) and insurance (0.45%) included in the 28% front-end DTI budget.
| Annual income | Max home price | Max monthly budget | Affords New Orleans median? |
|---|---|---|---|
| $50,000 | $191,567 | $1,167/mo | ✗ No |
| $75,000 | $287,350 | $1,750/mo | ✓ Yes |
| $100,000 | $383,133 | $2,333/mo | ✓ Yes |
| $125,000 | $478,917 | $2,917/mo | ✓ Yes |
| $150,000 | $574,700 | $3,500/mo | ✓ Yes |
| $175,000 | $670,483 | $4,083/mo | ✓ Yes |
| $200,000 | $766,267 | $4,667/mo | ✓ Yes |
Assumes 20% down, 6.5% rate, 30-year term, zero existing monthly debt. Property tax at 0.79% effective rate; insurance estimated at 0.45% annually. PMI required below 20% down — not included here.
Monthly payment breakdown on the median New Orleans home
$250,000 purchase price with 20% down ($50,000) at 6.5% on a 30-year loan.
Principal & interest (30yr)
$1,264/month on a $200,000 loan at 6.5% over 30 years. Total interest paid over the life of the loan: $255,040.
Property tax (0.79% effective rate)
$165/month ($1,980/year). Louisiana's effective property tax rate of approximately 0.79% is below the national average. However, flood insurance is often the larger ongoing cost variable — always check the FEMA flood map and obtain insurance quotes before any purchase, as annual premiums in high-risk areas can range from $2,000 to over $10,000.
Homeowners insurance (est.)
$94/month estimated at 0.45% of home value annually. Rates vary significantly by coverage level, age of home, and local risk factors — always get quotes before closing.
Total PITI (monthly)
$1,523/month estimated. Income needed to keep this under 28% of gross monthly income: $65,271/year.
New Orleans housing market 2026
New Orleans' housing market is driven by tourism, healthcare, and port employment. The Garden District, Uptown, and Marigny command significant premiums; Gentilly and New Orleans East offer more affordable options. Flood zone status is the critical variable for any property evaluation — FEMA map designation determines flood insurance requirements and costs.
Key numbers for New Orleans buyers
- Median home price: $250,000 (2026 estimate)
- 20% down payment: $50,000
- Loan amount (80% LTV): $200,000
- Monthly P&I at 6.5% / 30yr: $1,264
- Monthly P&I at 6.5% / 15yr: $1,742
- Est. PITI (P&I + tax + insurance): $1,523/month
- Income needed (28% front-end DTI): $65,271/year
Compare home affordability by city
📍 Los Angeles, CA
Median $900,000 · income needed $244,543/yr · 1.09% tax
📍 Chicago, IL
Median $330,000 · income needed $101,614/yr · 2.1% tax
📍 Houston, TX
Median $290,000 · income needed $89,143/yr · 2.09% tax
📍 Phoenix, AZ
Median $400,000 · income needed $102,429/yr · 0.65% tax
📍 Miami, FL
Median $580,000 · income needed $155,143/yr · 0.97% tax
📍 Seattle, WA
Median $740,000 · income needed $195,257/yr · 0.87% tax
📍 Denver, CO
Median $560,000 · income needed $141,171/yr · 0.54% tax
📍 Austin, TX
Median $525,000 · income needed $161,614/yr · 2.1% tax
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Home affordability New Orleans — frequently asked questions
How much house can I afford in New Orleans?
On a $100,000 annual income with no other debt, 20% down, and a 6.5% 30-year mortgage, you can afford approximately $383,133 in New Orleans. The median home price in New Orleans is $250,000, which requires approximately $65,271/year in gross income using the 28% front-end DTI rule (principal, interest, property tax, and insurance all within 28% of gross monthly income).
What income do I need to buy a home in New Orleans?
To afford New Orleans's median home price of $250,000 at 6.5% on a 30-year loan with 20% down, you need approximately $65,271/year in gross income. This assumes the full PITI payment of $1,523/month (P&I $1,264 + property tax $165 + insurance $94) stays within 28% of gross monthly income. Existing debts reduce this buying power further.
What is the median home price in New Orleans in 2026?
The estimated median home price in New Orleans in 2026 is approximately $250,000. This varies significantly by neighbourhood — enter the specific purchase price you are evaluating in the calculator above for a personalised estimate.
What are property taxes in New Orleans?
New Orleans, LA's effective property tax rate is approximately 0.79%. On a $250,000 home, that is roughly $165/month or $1,980/year in property taxes. Louisiana's effective property tax rate of approximately 0.79% is below the national average. However, flood insurance is often the larger ongoing cost variable — always check the FEMA flood map and obtain insurance quotes before any purchase, as annual premiums in high-risk areas can range from $2,000 to over $10,000.
Is New Orleans affordable to buy in 2026?
New Orleans's median home price of $250,000 requires an annual gross income of approximately $65,271 to qualify under the 28% front-end DTI rule at 6.5% with 20% down. The estimated total monthly payment (PITI) is $1,523/month. New Orleans' housing market is driven by tourism, healthcare, and port employment.