The landscape and housing prices in New Orleans have dramatically changed in the last ten years. Some neighborhoods have been massively gentrified, which in turn, pushed people into other areas of the city that were less popular.
Every neighborhood has seen an increase in housing prices, but let’s take a deeper dive into what areas have changed more than others.
This New Orleans zip covers Pontchartrain Park, Gentilly Woods, and a portion of New Orleans East. With extremely affordable prices in today’s standard, you would be surprised to know that just ten years ago the average price was $59k. Today you can expect to spend around $180k.
The 70115 neighborhood had an average sales price of $357k in 2012. Fast forward to 2022 and there was a whopping 12% increase with the average sales price at $643k.
In 2012, 70130 had an average price point of $301k. Today, you will find the average single-family home price at $589k. Please note that any of the larger homes in this zip code will be far more.
This zip code is much more than just Algiers Point! So, keep that in mind when you see these average prices. 10 years ago, many may find this surprising, but the average price was $63k. In the market today, you will find the average at $230k. Since many will ask about Algiers Point specifically, their average is $446k. (10 years ago it was $158k!)
This zip code honestly surprised us – we definitely thought the increase would be higher! In 2012, Gentilly saw an average price of $143k. And while there is definitely an increase, it’s not as dramatic as some areas. Today, the average price for a single-family home in 70122 is $314k.
This zip code covers mainly the neighborhoods Broadmoor and Fontainbleau. 2012 saw sales prices around $219k. With an 8% increase in ten years, today’s average home prices are $395k.
The Lakeview neighborhood saw a 6% increase in the last ten years. 2012 averaged $276k in single-family homes prices. To purchase a home in 2022, you can plan to spend around $527k.
In another section of New Orleans East, the numbers are similar to the entire area. in 2012, average single-family home prices were $106k. In today’s real estate market is $187k.
Remaining one of the most affordable areas in the city, Algiers covers all of 70131. Ten years ago homebuyers spent on average $137k. In the current market, they are spending $230k.
This particular zip code covers so many different neighborhoods in New Orleans. From Audubon to Hollygrove, 70118 touches everything in between! These average prices are because of the massive difference in price points in these varying neighborhoods. If you want specific area info, just reach out to us!
In 2012, the average single-family home price was $325k. Ten years later, homebuyers are spending about $495k.
Central City is the main neighborhood for 70113. This area has a tendency to fluctuate in price more dramatically over the years than some others. Today a homeowner can anticipate spending $394k on average. While ten years ago they were spending $105k.
Anyone who lives in Bayou St. John and Mid-City knows that the prices have changed significantly. $164k was the standard in 2012. In 2022 homebuyers are looking to spend more than double with an average price of $365k.
This zip code is similar to 70118- the neighborhoods vastly vary in price ranges and it’s almost unfair to show an average. However, today the average single-family home price is $259k. 2012 had an extremely low price point of $100k.
70116 covers parts of the French Quarter, the Marigny, Treme, and the Seventh Ward – hence the lower average price. (Because trust us, the prices are MUCH higher for a single-family home in the Quarter & Marigny!)
The average in 2022 is $336k and ten years ago was $225k.
Part of New Orleans East, this zip code has not had a massive increase in prices over the last team years. 2012 had homebuyers spending around $109k. But, in today’s market, they are only spending about $182k – making this BY FAR one of the most affordable areas in New Orleans.
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