New Orleans, LA
The Big Easy - events-driven STR demand year-round
New Orleans is one of the most event-dense STR markets in the US - Mardi Gras, Jazz Fest, French Quarter Fest, and dozens of conventions fill hotel rooms (and STRs) year-round. The French Quarter and Marigny neighborhoods carry the most demand, though city regulations require an STR permit and limit licenses in residential areas. Approved properties perform at some of the highest occupancy rates nationally.
Across 126 active STR-viable listings analyzed this month, New Orleans shows a 5.7% median cap rate at a $450K median list price, 37% occupancy, and $314/night. That ranks #6 of 57 markets in STRROI's live ranking. At typical prices the income covers expenses with a moderate margin; deals work best with a solid down payment or a below-market purchase.
New Orleans real estate market right now
As of October 16, 2026, STRROI is tracking 126 homes for sale in New Orleans that could run as short-term rentals, at a median list price of $449,500. The middle half are priced between $285K and $865K. That works out to a median of $302 per square foot for a typical 1,944 square foot home. Homes here have been on the market 105 days on average, close to the 101 days typical across the 56 markets in STRROI's ranking. 33 of them were listed in the last 30 days.
These numbers cover the homes for sale STRROI analyzes as potential short-term rentals in New Orleans, mainly ZIP 70116. They are not every home sale in the area, so they can differ from MLS-wide figures. Month-by-month price history starts Oct 2026 and fills in as the market is re-checked each month.
What's for sale in New Orleans right now
Of the 126 homes for sale we analyzed in New Orleans, 46 (37%) project positive monthly cash flow with 20% down at a 7.5% rate, and 4 rate Buy or better on STRROI's 1-10 scale. 5+ bedroom homes are the most common (35 for sale, median $740K). Returns are strongest in 4-bedroom homes at a 8.8% median cap rate, and weakest in 3-bedroom homes at 4.9%. By property type, multi-family lead at a 10.0% median cap rate across 41 listings.
- Buy: 4
- Moderate Buy: 5
- Watch: 5
- Weak: 86
- Avoid: 26
| Beds | For sale | Median price | Cap rate |
|---|---|---|---|
| 1 | 17 | $229K | 5.2% |
| 2 | 19 | $379K | 5.5% |
| 3 | 31 | $569K | 4.9% |
| 4 | 24 | $340K | 8.8% |
| 5+ | 35 | $740K | 8.5% |
| Type | For sale | Median price | Cap rate |
|---|---|---|---|
| Single-family homes | 41 | $565K | 5.1% |
| Multi-family | 41 | $395K | 10.0% |
| Condos | 35 | $350K | 5.5% |
| Townhouses | 9 | $1.3M | 3.1% |
Top-ranked homes for sale in New Orleans this month
Scored 1-10 against real Airbnb comps. Addresses, photos and the full underwriting are in the app.
- #1Buy · 8/109 bd · 9 ba townhouseZIP 70116 · listed at $1.1M
- Cap rate
- 8.7%
- Cash flow
- +$1,832/mo
- Nightly
- $1,232 at 37%
- #2Buy · 8/1013 bd · 13 ba multi-family propertyZIP 70116 · listed at $2.2M
- Cap rate
- 8.4%
- Cash flow
- +$3,082/mo
- Nightly
- $1,186 at 37%
- #3Buy · 8/109 bd · 9 ba multi-family propertyZIP 70116 · listed at $1.5M
- Cap rate
- 8.2%
- Cash flow
- +$1,821/mo
- Nightly
- $788 at 37%
How New Orleans compares
New Orleans ranks #2 of 21 Southeast markets in STRROI's live ranking; St. Augustine leads the region with a median cap rate of 5.7%. Its 5.7% cap rate is 2.8 points above the 2.9% median across all 57 ranked markets, and its $450K typical list price is cheaper than the Southeast median of $633K.
| Rank | Market | Cap rate | Typical price |
|---|---|---|---|
| #4 | St. Augustine, FL | 5.7% | $300K |
| #6 | New Orleans, LA | 5.7% | $450K |
| #9 | Savannah, GA | 5.2% | $799K |
| #11 | Key West, FL | 4.9% | $860K |
| #14 | Panama City Beach, FL | 4.4% | $465K |
| #15 | Myrtle Beach, SC | 4.4% | $315K |
| #21 | Gulf Shores, AL | 3.7% | $499K |
Rank is national, by median cap rate across active STR-viable listings. Cash flow uses STRROI's default financing assumptions. See the full ranking
Estimated Annual Performance
* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.
Why Investors Choose New Orleans
New Orleans STR investing, answered
Is New Orleans, LA a good short-term rental market?
New Orleans is a Southeast STR market with a 5.7% median cap rate, 37% annual occupancy, and $314/night across STR-viable listings, based on 126 active listings. It ranks #6 of 57 markets by median cap rate in STRROI's live ranking. This month 4 of its 126 homes for sale rate Buy or better.
What is the average Airbnb occupancy rate in New Orleans?
STR-viable properties in New Orleans average about 37% occupancy across the year. Peak season is Feb (Mardi Gras), Apr-May (Jazz Fest), Oct. Occupancy here reflects availability-adjusted booking performance, not raw calendar occupancy, so it represents what a full-time operated rental can realistically achieve.
How much do short-term rentals earn in New Orleans?
At $314/night and 37% occupancy, a typical New Orleans STR grosses roughly $42,406 per year before expenses, leaving an estimated $25,444 in net operating income. Across analyzed listings the median cap rate is 5.7%. Individual results depend on property, amenities, and management.
What types of properties work best for STR in New Orleans?
Among homes for sale right now, 4-bedroom homes post the strongest median cap rate by size (8.8%), and multi-family lead by property type (10.0%). With guests, the best-performing STR types here are Shotgun House, Creole Cottage, Condo, Townhouse. Matching the local guest profile and the amenities that drive bookings matters more than raw square footage.
How many homes for sale in New Orleans cash flow as an Airbnb?
46 of 126 STR-viable listings (37%) project positive monthly cash flow after the mortgage, assuming 20% down at a 7.5% rate on a 30-year loan. The top-ranked listing this month is a 9-bedroom townhouse in ZIP 70116 listed at $1.1M, projecting a 8.7% cap rate and +$1,832 a month.
What is the median home price in New Orleans, LA right now?
The median list price of the 126 homes for sale STRROI tracks in New Orleans is $449,500, and the middle half are priced between $285K and $865K. The median price per square foot is $302. These are homes that could run as short-term rentals, mainly ZIP 70116, not every sale in the area. Against a 5.7% median cap rate, that price level sets the return baseline you'd underwrite against.
How long do homes stay on the market in New Orleans?
Homes for sale in New Orleans have been listed 105 days on average, close to the 101 days typical across the 56 markets in STRROI's ranking. 33 of them were listed in the last 30 days.
Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.Stats sourced from 126 active listings · last updated Oct 16, 2026
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