New Orleans-area homes slow to sell landing on rental marketStephen Maloney
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32.6% of Louisiana households do not own their homes as of 2024Q2. Homeowner vacancy in Louisiana is 1.8%, up 12.5% from the previous year. The New Orleans-Metairie metropolitan area has a 8.1% rental vacancy rate, up 12.5% YoY.
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Rent growth is easing as landlords respond to a tightening in tenant budgets brought on by inflation.
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However, Sinn Féin housing spokesmanEoin Ó Broinsaid while the rents were lower than those charged for new tenancies, they were higher than existing tenancies in the surrounding area. “These are rents which are not affordable for the overwhelming majority of people...
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