NEW ORLEANS – On March 1, online apartment rental marketplace Apartment List released a monthly report that indicated New Orleans rent is on the rise.
The highlights of the report included:
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- Rent in the city has remained the same over the past month, though increasing 1.1 percent year-over-year.
- The median for a one-bedroom is $800 and a two-bedroom is $960 a month, which the report indicates is below the national average of $1,160.
- The national rent index has increased 0.1 percent over the past month, after declining by 0.5 percent from last September through January.
The rent growth in February of New Orleans compared to the rest of Louisiana (1.0 percent) is only 0.1 percent higher, and is 1.2 percent lower than the average growth over the entire country. The report also noted that New Orleans is still more affordable that most large cities across the country.
