The story of this market
The typical home in ZIP 70116 sells for about $261,000, or $215 per square foot.
Prices are down 18.3% from a year ago, which gives buyers more room to negotiate. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,270 a month.
ZIP 70116 — New Orleans
The 70116 housing market is currently experiencing a cooling phase, characterized by a significant year-over-year price decline and a high months-of-supply metric. Elevated insurance costs and flood risk, combined with broader economic headwinds, are tempering buyer demand. The market remains heavily influenced by its historic nature and high concentration of rental properties.
This ZIP is best suited for investors, young professionals, and those who value historic urban living. It is less ideal for families seeking traditional suburban school systems or large-lot single-family homes.
Median prices moved down 18.3% year over year.
Homes spend a median of 68 days on market with 7.1 months of supply — a balanced-paced market.
18% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 9.0% · poverty 21.9% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 70116, Orleans Parish, LA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area experiences higher rates of property and violent crime compared to national averages, consistent with urban core trends in New Orleans. Local safety initiatives are ongoing, but residents should remain vigilant.
Public schools in this district generally receive lower performance ratings, with many families opting for charter or private school alternatives within the city.
The ZIP code is located in a high-risk flood zone, necessitating mandatory flood insurance and strict adherence to building elevation codes. Wind and hurricane exposure are significant climate considerations for property owners.
Economic momentum is driven by the tourism, hospitality, and healthcare sectors in the surrounding New Orleans metro area. Infrastructure projects focus on historic preservation and flood mitigation rather than large-scale new commercial development.
Property taxes are assessed by Orleans Parish based on a percentage of fair market value, with homestead exemptions available for primary residences. The tax structure includes millage rates for city, parish, and school district funding.
Residents benefit from proximity to the New Orleans central business district, with most commutes involving short drives or public transit via the city's historic streetcar and bus lines.
The area is rich in cultural amenities, including proximity to the French Quarter, local parks, and historic walking trails. Shopping and dining are concentrated in the vibrant, walkable corridors of the neighborhood.
The rental market is highly active with significant demand for short-term rentals, which exerts upward pressure on long-term housing costs. Vacancy rates remain relatively low due to the area's popularity with tourists and young professionals.
The economy is heavily anchored by tourism, hospitality, and the Port of New Orleans. Healthcare and education institutions serve as major secondary employers.
The area is served by the New Orleans Regional Transit Authority, providing bus and streetcar access to the wider metro area.
Development is strictly regulated by historic preservation commissions, limiting large-scale new builds in favor of adaptive reuse.
The Orleans Parish Assessor's Office manages property valuations, with assessments updated periodically to reflect market changes.
Parcels are subject to city-wide millage rates, including those for the New Orleans Public Schools and various flood protection districts.
Property insurance premiums are high due to flood and wind risk, with many owners relying on the National Flood Insurance Program.
Data retrieved from Census Reporter and United States Zip Codes.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Dave & Buster's New Orleans3.71.3 mi
- Sky Zone Trampoline Park4.17.6 mi
- Game On Social Hub4.510.6 mi
- K1 Speed New Orleans4.67.1 mi
- Storyland4.52.6 mi
- Caesars Superdome4.61.5 mi
- New Orleans Ernest N. Morial Convention Center4.51.5 mi
- Smoothie King Center4.61.6 mi
- Preservation Hall4.70.5 mi
- The Sazerac House4.91 mi
- The National WWII Museum4.81.6 mi
- French Market4.50.4 mi
- Audubon Aquarium4.41 mi
- Audubon Zoo4.55 mi
- Jackson Square4.70.6 mi
- The National WWII Museum4.81.6 mi
- Jackson Square4.70.6 mi
- Napoleon House4.60.7 mi
- New Orleans Museum of Art4.72.3 mi
- The Sazerac House4.91 mi
- Jackson Square4.70.6 mi
- New Orleans City Park4.83.2 mi
- Louis Armstrong Park4.50.3 mi
- Audubon Park4.74.8 mi
- Lafreniere Park4.79.4 mi
- New Orleans RV Resort & Marina4.24.5 mi
- Mid City Yacht Club4.52.9 mi
- Southern Yacht Club4.55.3 mi
- Seabrook Harbor & Marine4.54.4 mi
- Eddie Pinto's Marina & Seafood4.47.5 mi
- TPC Louisiana4.68.7 mi
- Bayou Oaks At City Park43.8 mi
- Golf Club at Audubon Park4.44.7 mi
- Chateau Golf & Country Club4.512.2 mi
- Loft18 Metairie4.55.6 mi
- Lakeside Shopping Center4.46.3 mi
- French Market4.50.4 mi
- Riverwalk Outlets4.41.4 mi
- Rouses Market4.51.4 mi
- Ross Dress for Less4.22.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
World-renowned cultural and entertainment district bordering the ZIP.
Historic park featuring jazz history and green space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.