Although rent in New Orleans may not be as high as places like New York or San Francisco, the city does take the number two spot where residents are most likely to spend more than half their paycheck on rent. To further analyze this disparity, we pulled US Census and Zumper rental data to rank seven major districts in New Orleans by the percentage of income spent for a two-bedroom home, while also comparing to the New Orleans city average.
As the table below shows, neighborhoods with median household incomes lower than the citywide median, like Mid City and Bywater, unsurprisingly have residents that tend to spend a higher proportion of their incomes on rent, even though prices in those districts are lower than average. Mid City, for instance, has residents spending almost half of their income on rent cost. For neighborhoods with incomes in line with the New Orleans median, like Central City and Algiers, the amount spent on rent is still high, averaging around 43%.
On the flip side, residents in neighborhoods with prices higher than the New Orleans median, like Lakeview and French Quarter, spend the least of their incomes on rent, as greater household income outweighs higher costs of living. Though still high as a percentage, the median household in these areas will spend between 35% to 38% of its income on rent.
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