Top Locations Where to Invest in the New Orleans Housing Market 2019 by Heba Baker June 19, 2019June 19, 2019 by Heba Baker June 19, 2019June 19, 2019 If you’re considering a rental property investment in the New Orleans housing market, do yourself a favor and read up on the best place to invest in real estate in 2019. The New Orleans Real Estate Market: How’s It Looking? Before we tell you where to invest in real estate for your best chances at a profitable New Orleans investment property, let’s cover some basic housing market trends first. It’s always important to keep track of the trends of a prospective investment market so you’re ready to seize any opportunities at the right time. Some Key Trends to Know About the New Orleans Housing Market 2019 The median home value for New Orleans houses for sale is currently $178,700. Things are in favor of investors this year as the New Orleans housing market is currently a buyer’s market. This means that there is a good inventory of housing stock on the market; investors have won’t have a difficult time searching for New Orleans houses for sale. According to NeighborhoodScout.com, the New Orleans housing market has experienced an average annual appreciation rate of 3.44 percent over the last ten years. A New Orleans real estate investment will be a stable addition to your portfolio as it is considered to be in the top 20 percent for real estate appreciation nationally. New Orleans’ population is composed of a mixture of both homeowners and renters, with people primarily living in single-family homes. This makes sense as single-family homes make up 44.55 percent of New Orleans’ housing units. Homes in the New Orleans housing market typically sell 4 percent below listing price. The average sales price of houses in the city is around $285,000; this number is 0.88 percent higher than last year. So now you have a better idea of how the New Orleans housing market is looking. This is information that an interested investor should generally have when analyzing a market for a real estate investment. However, this isn’t enough to make a sound decision and settle on a location. For that, you’re going to need Mashvisor’s data. Related: How to Stay on Top of Real Estate Market Trends Mashvisor’s Data for New Orleans Using our investment property calculator, we’ve put together a list of the key return on investment metrics and rental market performance data. This is critical data for any real estate investor looking to make a smart investment decision. You can gain access to these real estate analytics to assess any property or location by starting a free trial right now (and get 20% off!). Get 20% Off Now New Orleans Real Estate Market Forecast Median Property Price: $451,728 Price per Square Foot: $246 Price to Rent Ratio: 24 Average Days on Market: 105 Monthly Traditional Rental Income: $1,597 Traditional Cash on Cash Return: 2% Monthly Airbnb Rental Income: $3,396 Airbnb Cash on Cash Return: 6% Airbnb Occupancy Rate: 53% Here you have a more in-depth analysis of the New Orleans housing market 2019. Notice how there are metrics for rental property performance under both the long term (traditional) and the short term (Airbnb) rental strategy. It’s important to make the distinction between the two as each has different factors for success. So much so that the optimal rental strategy in the New Orleans housing market differs based on the neighborhood you’re investing in. So we will be listing the best neighborhoods in New Orleans shortly. First, however, we need to cover one of the important factors affecting a successful Airbnb New Orleans investment– Airbnb regulations. Related: The 5 Most Profitable Airbnb Locations According to Mashvisor’s Investment Property Calculator Is Airbnb Legal in New Orleans? Short answer- yes. Unfortunately, things aren’t quite that simple. The city council approved a set of Airbnb regulations in New Orleans in January. Although these regulations were motivated by the uncontrolled spread of Airbnbs across the city, they apply to all short term rentals. The important things investors need to know are: Short term rental operators must apply for a license and include the license number in their Airbnb listing as any listing without a license number is out of compliance. Short term rentals aren’t allowed outdoors, in a recreational vehicle, or in an accessory structure (shed, garage, etc.). You can only host one party of guests per short term rental. Short term rentals must outwardly appear as a residential dwelling. Temporary short term rentals (a maximum of 90 rental nights per year) can be rented out without the presence of the property owner. Commercial short term rentals do not have a limit of rental nights per year and do not require the presence of the property owner during the rental period. However, they must be in a non-residential zoning district. Click here for more details on where short term rentals are allowed in the New Orleans housing market. If you’d like to know more about short term rentals in New Orleans, click here. Related: Is Airbnb a Good Investment Considering All of the Regulations? Now that you know what to expect from the law, here are the best neighborhoods for a successful Airbnb investment in the New Orleans housing market. Best Neighborhoods for Airbnb Rentals Read Blvd. West Median Property Price: $175,925 Price per Square Foot: $89 Price to Rent Ratio: 10 Average Days on Market: 19 Monthly Airbnb Rental Income: $3,213 Airbnb Cash on Cash Return: 12% Airbnb Occupancy Rate: 47% Algeirs Point Median Property Price: $250,600 Price per Square Foot: $143 Price to Rent Ratio: 16 Average Days on Market: 97 Monthly Airbnb Rental Income: $3,698 Airbnb Cash on Cash Return: 15% Airbnb Occupancy Rate: 66% Holly Grove Median Property Price: $152,725 Price per Square Foot: $121 Price to Rent Ratio: 11 Average Days on Market: 170 Monthly Airbnb Rental Income: $3,119 Airbnb Cash on Cash Return: 18% Airbnb Occupancy Rate: 59% Related: Short-Term Rental Strategy: Best Cities for Airbnb Rental Income Best Neighborhoods for Traditional Rentals Whitney Median Property Price: $85,000 Price per Square Foot: $62 Price to Rent Ratio: 6 Monthly Traditional Rental Income: $1,241 Traditional Cash on Cash Return: 8% Florida Median Property Price: $259,933 Price per Square Foot: $102 Price to Rent Ratio: 12 Average Days on Market: 39 Monthly Traditional Rental Income: $1,746 Traditional Cash on Cash Return: 7% Plum Orchard Median Property Price: $95,500 Price per Square Foot: $96 Price to Rent Ratio: 7 Monthly Traditional Rental Income: $1,103 Traditional Cash on Cash Return: 6% To start searching for real estate properties in the New Orleans housing market, click here. To learn more about how Mashvisor can help you find profitable investment properties, schedule a demo. Start Your Investment Property Search! START FREE TRIAL AirbnbAirbnb RegulationsNeighborhoodNew Orleans LATraditional 0 FacebookTwitterGoogle +PinterestLinkedin Heba Baker Heba is Content Writer at Mashvisor with a BA in Business Administration. Most of all, she enjoys writing about the constantly changing markets in the US real estate industry. If not writing, Heba is exploring and learning. Previous Post How to Wholesale Real Estate Step by Step: A Beginner’s Guide Next Post US Housing Inventory Could See a Boost Related Posts Should You Invest in the Palm Springs Real Estate Market 2019? Gatlinburg Airbnb 2022: Why and Where Should You Invest? Mashvisor’s Quest to Find the Best States to Invest in Real Estate in 2018 Where Are the Best Real Estate Investments for 2018 Located? 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