CALCMONEY // MORTGAGE // LA // NEW ORLEANS
Calculate your monthly mortgage payment using New Orleans-specific property tax rates and local market data.
$265,000
6.95%
0.55%
98
| Principal & Interest | $1,403 |
| Property Tax | $121 |
| Homeowners Insurance (est.) | $88 |
| Total Monthly Payment (PITI) | $1,613 |
$53,000
$293,199
$69,134/yr
The median home price in New Orleans is $265,000, below the national median of $420,000. With a median household income of $52,000, the price-to-income ratio is 5.1x — meaning buyers typically spend 5.1 years of gross income on the purchase price.
Property taxes in New Orleans run 0.55% of assessed value. On the median home, that is $1,458 per year, or $121 per month added to your mortgage payment. This is well below the national average of 1.1%, giving New Orleans homeowners a meaningful property tax advantage.
Louisiana has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in New Orleans is 98 (national average = 100). Day-to-day expenses beyond housing are close to the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $212,000 loan saves $9,540 in interest over 30 years.
Compare Top New Orleans Mortgage LendersBaton Rouge
$225,000 median
LAShreveport
$175,000 median
LALafayette
$210,000 median
LALake Charles
$185,000 median
Neighborhood-level data for 4 ZIP codes in New Orleans. Rates, home prices, and estimated payments vary by area.