Average Rent in 70118, New Orleans, LA

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Current Versus Historical 70118, New Orleans, LA Rents

70118 rentals average $0 for a studio rental to $4,950 for a 4-bedroom rental. The median price of all currently available listings is $2,300, or roughly $2 per square feet.
For the apartment units and housing in April 2024, median rents have risen over the last year. Studio rentals prices have increased by $2,063 (160.19%) year-over-year from $1,288 to $3,350. 1-bedroom rentals prices have increased by $101 (8.07%) year-over-year from $1,249 to $1,350. 2-bedroom rentals prices have decreased by $192 (-10.00%) year-over-year from $1,917 to $1,725. 3-bedroom rentals prices have increased by $237 (10.46%) year-over-year from $2,263 to $2,500. 4-bedroom rentals prices have increased by $2,340 (91.41%) year-over-year from $2,560 to $4,900. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 1.95% this month. 1-bedroom rents have gone up by 16.13% this month. 2-bedroom rents have gone down by 18.50% this month. 3-bedroom rents have gone down by 8.26% this month. 4-bedroom rents have gone down by 16.71% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
1 BR $2.64 $1,350 $1,249 (8.07%) $1,096 (23.19%)
2 BR $1.62 $1,725 $1,917 (-10.00%) $1,541 (11.95%)
3 BR $1.45 $2,500 $2,263 (10.46%) $2,475 (1.01%)
4+ BR $1.78 $4,900 $2,560 (91.41%) $2,881 (70.11%)

Historical Rents in 70118, New Orleans, LA

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near 70118

There are a total of 1 cities nearby 70118. The average rent in 70118 is currently $1,925 per month. Only one city nearby has an average rent lower than that. Our records show that New Orleans, LA, with an average rent of $1,925, is the most affordable city nearby. In contrast, the most expensive city near 70118, New Orleans, LA is New Orleans, LA. Monthly rents here are on average $1,925 per month.

Let's compare 70118, New Orleans, LA's rent against other top cities nearby by bedroom size. Typically, rent for studios in 70118, New Orleans, LA is inf% more affordable than other cities nearby. One bedrooms are about 6.50% more affordable. Two bedrooms in 70118, New Orleans, LA are about 2.78% more expensive. Finally, rent for three bedrooms are about 2.00% more expensive. Want more information? Check out the top 1 cities near 70118, New Orleans, LA in the following chart.
City Studio 1 Bed 2 Bed All
New Orleans, LA $1,000 $1,598 $1,750 $1,925

Top Neighborhoods Near 70118



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near 70118

Some of these counties include Jefferson, LA, St. Tammany, LA, and Orleans, LA. The average rent for rentals in these counties is $1,875. That's roughly around $1 per sqft. A total of 3 counties have a lower average rent. The county that is the most affordable is Jefferson, LA. It's average rent per month is $1,850. Vice versa, with an average rent of $1,925, Orleans, LA is the most expensive county by 70118, New Orleans, LA.

Typically, rent for studios in 70118, New Orleans, LA is inf% more affordable than other counties nearby. In comparison, rent for one bedroom listings in 70118, New Orleans, LA is 26.67% more expensive than other counties nearby. Finally, rent for two bedrooms in 70118, New Orleans, LA is 12.50% more expensive than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Jefferson, LA N/A $1,100 $1,575 $1,850
St. Tammany, LA $5,188 $1,100 $1,300 $1,875
Orleans, LA $1,000 $1,598 $1,750 $1,925

Top Zipcodes Near 70118

There are a total of 3 zipcodes in or near 70118, New Orleans, LA. The average rent for all of these zipcodes is $2,000. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 70119, New Orleans, LA at $1,700 per month. In comparison, the zipcode with the most expensive average rent of $2,400 per month is 70130, New Orleans, LA.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 70118, New Orleans, LA is $1,488 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,800 per month. Which comes out to $2 per sqft. The following chart includes the top 3 zipcodes in 70118, New Orleans, LA. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
70115, New Orleans, LA N/A $1,488 $1,800 $2,000
70119, New Orleans, LA N/A $1,200 $1,580 $1,700
70130, New Orleans, LA N/A $2,150 $2,250 $2,400

Frequently Asked Questions - 70118 Average Rents

What is the average rent price in 70118, New Orleans, LA?
The average monthly rental price for 70118, New Orleans, LA apartments for rent is approximately $2,300. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 70118, New Orleans, LA rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 70118, New Orleans, LA.
How much is a studio apartment in 70118, New Orleans, LA?
The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 1 studio apartment listings currently available for rent in 70118.
How much is a one bedroom apartment in 70118, New Orleans, LA?
The average monthly rental price for one bedroom apartments is $1,500 and an average price per square feet of $2.64. There are a total of 9 one bedroom apartment listings currently available for rent in 70118.
How much is a two bedroom apartment in 70118, New Orleans, LA?
The average monthly rental price for two bedroom apartments is $1,800 and an average price per square feet of $1.62. There are a total of 28 two bedroom apartment listings currently available for rent in 70118.
How have rent prices in 70118, New Orleans, LA changed this year?
Rent prices for rentals in 70118, New Orleans, LA can fluctuate yearly. Specifically, studio rental prices have changed by 1.60%, one bedroom rental prices have changed by 0.08%, two bedroom rental prices have changed by -0.10%, and three bedroom rental prices have changed by 0.10% year-over-year.
What is a reasonable rent price in 70118, New Orleans, LA?
A reasonable rent price in 70118, New Orleans, LA is around $1,840/month. You can search for these reasonably priced rental listings on RentHop.
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