It's easy to fall in love with New Orleans, LA – the "Big Easy." It is the largest city in Louisiana, a "city of paradox and contrast" with a unique culture and blended heritage. An exciting combination of Caribbean, American, French, and African cultures await residents and visitors alike.
Moreover, it's the home of the famous St. Louis Cathedral, Jackson Square, and the birthplace of jazz music. "The Big Easy" is renowned for its colorful Royal Street and Creole cuisine. Locals and tourists also love the festive spirit of Mardi Gras in this bustling city.
A Glimpse of New Orleans, LA
In 2019, New Orleans recorded an estimated 390,144 population, making it the most populous city in Louisiana. The city spreads around the Mississippi River Delta curve with a beautiful waterfront, which is why it is also called the "Crescent City."
Their summers are scorching and lengthy, and their winters are apparently shorter, where people experience cool and windy weather. Of course, there is the risk of hurricanes but that's a well-known fact after Hurricane Katrina. Therefore, for people who love outdoor fun, this warm-weather is perfect for recreational activities and there's a lot to do in surrounding areas as well. New Orleans' temperature is rarely below 35⸰F or above 97⸰F, people should expect temperatures that vary from 47⸰F to 92⸰F.
New Orleans, carries some of the most important U.S. ports and major tourist resorts. As a result, the city's commercial and economic status allows for business centers to flourish. Their solid economic status is grounded in the medical, industrial, and educational center.
Living in the City
Quality Education:
No need to worry about education here! There are many good schools around New Orleans, LA, which make it worthy of living. Listed below are the top 3 schools around New Orleans, LA:
- Metairie Academy For Advanced Studies
- Haynes Academy School For Advanced Studies
- New Orleans Center For Creative Arts
Transportation:
Transit-friendly
Regularly, commuters can find themselves riding a bus, streetcars, and ferries. Here are the top 3 neighborhoods with excellent transit: Iberville, Central Business District, and French Quarter.
Bikeable
New Orleans is furnished with bike infrastructures, hills, and pleasant weather suitable to enjoy a nice ride and accomplish tasks riding a bicycle. Here are the top 3 bikeable neighborhoods: Treme-Lafitte, Iberville, and Bayou St. John.
Walkable
A real treat about downtown in this city is how walkable it is! Known as the "Big Easy," New Orleans is desirable for people who love to walk and enjoy the nightlife. Here are the top 3 walkable neighborhoods in New Orleans: French Quarter, Marigny, and Central Business District.
Real Estate Conditions in New Orleans
New Orleans is undoubtedly one of the best long-term real estate investments in the U.S. However, the destruction of Hurricane Katrina resulted in many people deciding to leave the city. While the city is still seeing this impact, it's back on the up and up and it's infrastructure continues to improve.
The housing market is somewhat competitive, receiving an average of 2 offers and selling in around 41 days. To identify New Orleans' real estate condition, take a look at its house pricing. According to Redfin, home prices in New Orleans since last year are around $308K, where a square foot can be bought at $186. Contradictory to its high cost, New Orleans' housing price is much more reasonable than other Louisiana's real estate market in major cities of the same size -- which makes it also that much more popular. If buyers are interested in this city -- it's time to get in before the market forces prices to rise here, as well!
Another important note about real estate is the history and culture that is so rich in New Orleans is seen in the home styles there as well. Charming Victorian homes and bright colored houses on tree-lined streets exude a unique feel that makes this city so popular.
For now, the city is surprisingly a buyer's market. There is a high chance of finding affordable houses because there are more active houses for sale than buyers seeking them out (another side effect of Katrina). Another good thing about the city's real estate condition is it has the lowest mortgage rates as of 2020 in several years. Remarkably, buyers can easily apply for a mortgage loan and make affordable choices.
The Bottom Line
New Orleans, LA, is making headway in the real estate industry. It progressively increased sales from a drastic decrease brought by the pandemic. Its reasonable house pricing and the excellent neighborhoods are something all buyers can get behind. This city is definitely a hive of busy people and those who can't get enough with the round-the-clock nightlife! Offering a high quality of life in business, culture, and education, New Orleans, LA, is undoubtedly an irresistible place to invest and relocate to.
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