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Rental Insights for ZIP Code 70131 (New Orleans, LA)

Housing Rentals in ZIP Code 70131 (New Orleans, LA)

70131 ZIP Code in Louisiana

A Comprehensive Look at Rentals in the ZIP Code 70131

The 70131 ZIP Code is primarily associated with New Orleans, LA in Orleans County. The median housing rent in this Louisiana region is estimated at $942 per month. Approximately 42.9% of housing units in this Orleans County ZIP Code are renter-occupied, and the region has an estimated rental vacancy rate of 9.3%.

The median rent in ZIP Code 70131 of $942 per month is 9% higher than the aggregate Louisiana median monthly rent of $866, and is 11% lower than the $1,062 the median monthly rent in the U.S. overall. An estimated 56.8% of renters in ZIP Code 70131 pay between $500 and $999 per month for housing. That is 10% higher than in Louisiana overall, in which 51.5% of total state residents pay between $500 and $999 per month for housing. Just 0.2% of renters in ZIP Code 70131 pay between $2,500 and $2,999 for monthly rent.

ZIP Code 70131 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 70131

See the chart below for a comparison of monthly rental costs in ZIP Code 70131, Louisiana, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 70131 along with those in the state of Louisiana and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 70131

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 70131 Louisiana U.S.
Less than $500 3.3% 14.0% 9.4%
$500 to $999 56.8% 51.5% 36.2%
$1,000 to $1,499 33.5% 26.1% 30.0%
$1,500 to $1,999 5.7% 6.2% 14.0%
$2,000 to $2,499 0.2% 1.6% 5.6%
$2,500 to $2,999 0.2% 0.4% 2.4%
$3,000 or more 0.5% 0.3% 2.4%

Rent Cost vs. Income in ZIP Code 70131

Renters in ZIP Code 70131 use an estimated 30.6% of their income to cover their monthly rent payments. That is about 0% lower than in Louisiana overall. The estimate for Louisiana overall is 30.69% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 70131 renters use about 3% more of their income to cover rent expense. Household income figures for ZIP Code 70131 come in higher than in Louisiana as a whole. The median annual household income in ZIP Code 70131 of $52,312 sits approximately 6% higher than the overall Louisiana median income of $49,469 and approximately 17% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 70131

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 70131, Louisiana, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 70131 along with the same calculations in the state of Louisiana and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 70131

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 70131 Louisiana U.S.
Less than 15.0 percent 13.2% 13.4% 13.1%
15.0 to 19.9 percent 12.7% 11.7% 12.9%
20.0 to 24.9 percent 12.6% 10.6% 12.9%
25.0 to 29.9 percent 8.6% 9.8% 11.6%
30.0 to 34.9 percent 6.3% 9.0% 9.1%
35.0 percent or more 46.6% 45.4% 40.5%

Household Income in ZIP Code 70131

See the table below for the regional comparison of annual household income in ZIP Code 70131.

Income ZIP 70131 Louisiana U.S.
Less than $10,000 8.4% 9.6% 6.0%
$10,000 to $14,999 6.0% 5.9% 4.3%
$15,000 to $24,999 10.9% 12.0% 8.9%
$25,000 to $34,999 11.0% 10.4% 8.9%
$35,000 to $49,999 11.6% 12.5% 12.3%
$50,000 to $74,999 19.1% 16.1% 17.2%
$75,000 to $99,999 10.0% 11.2% 12.7%
$100,000 to $149,999 11.1% 12.6% 15.1%
$150,000 to $199,999 5.9% 5.0% 6.8%
$200,000 or more 6.0% 4.6% 7.7%

Household Income in ZIP Code 70131

See the chart below for a comparison of annual household income figures in ZIP Code 70131, Louisiana, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 70131 alongside the same figures for the state of Louisiana and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 70131

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 70131.

ZIP 70131 Louisiana U.S.
Median Housing Rent $942 $866 $1,062
Renter-Occupied Housing Units 42.9% 34.4% 36.0%
Rental Vacancy Rate 9.3% 8.6% 6.0%
Average Size of Renter-Occupied Unit 2.40 2.48 2.49
Average # of Bedrooms Per Unit 2.86 2.75 2.75
Percent of Income Spent on Rent 30.6% 30.69% 29.83%
Per Capita Income $30,507 $27,923 $34,103
Median Household Income $76,760 $71,001 $88,607
Living Below the Poverty Line 12.6% 14.5% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 70131

In ZIP Code 70131 (New Orleans, LA), and estimated 42.9% of housing units are occupied by renters. This region has an approximate rental vacany rate of 9.3%.

The per capita income in 70131 is estimated at $30,507, which goes along with an estimated median household income of $76,760. About 12.6% of residents in this Orleans County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 2.40 occupants, while the units have an aggregate average size of 2.86 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 30.6% of their income on housing rental costs.

Rental FAQs for ZIP Code 70131

1

What is the median monthly rent in ZIP Code 70131?

Median rent for housing in ZIP Code 70131 in Orleans County in Louisiana is approximately $942 per month.
2

Is it expensive to rent in ZIP Code 70131?

Rent in ZIP Code 70131 is higher than average in the state of Louisiana overall. The median monthly rent of $942 in ZIP Code 70131 is approximately 9% higher than the Louisiana median of $866. Additionally, median rent in this New Orleans, LA region ($942) is about 11% lower than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 70131?

High-priced rentals are more common in ZIP Code 70131 than in Louisiana overall. The percentage of rentals in ZIP Code 70131 that cost $3,000 or more per month (0.5%) is about 67% higher than the Louisiana rate of 0.3% that cost that much. Additionally, the overall U.S. rate of 2.4% paying $3,000 or more per month is about 79% higher than the aforementioned 70131 rate of 0.5%.
4

Are affordable rentals common in ZIP Code 70131?

Affordable rentals are less common in ZIP Code 70131 than in Louisiana overall. The percentage of housing rentals in ZIP Code 70131 costing $999 or less per month (60.1%) is approximately 8% lower than the Louisiana rate of 65.5% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 32% lower than the previously mentioned 70131 rate of 60.1%.
5

What is the most common cost range that rentals fall into in ZIP Code 70131?

The most common range for rental cost in ZIP Code 70131 is between $500 and $999 per month. About 56.8% of renters in 70131 pay in this range for monthly rent. In comparison, approximately 51.5% of renters in the state of Louisiana fall in the between $500 and $999 range, and 36.2% of overall U.S. renters fall in this range.
6

Does ZIP Code 70131 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 70131 is higher than the rental vacancy rate in the state of Louisiana overall. Rental vacancy of 9.3% in ZIP Code 70131 is about 8% higher than the Louisiana rate of 8.6%. Looking more broadly, rental vacancy in this New Orleans, LA region (9.3%) is an estimated 55% higher than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 70131? How does it compare to other Louisiana regions?

Median household income in ZIP Code 70131 is higher than in the state of Louisiana overall. Annual household income of $52,312 in ZIP Code 70131 is about 6% higher than the Louisiana median of $49,469. Additionally, median household income in this New Orleans, LA region ($52,312) is approximately 17% lower than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 70131 spend on housing costs?

Renters in ZIP Code 70131 spend a lower amount of their income on rent costs than do renters in Louisiana overall. Renters in ZIP Code 70131 spend an estimated 30.6% of their income on rent payments, which is about 0% lower than the overall Louisiana estimated rate of 30.69%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 3% lower than the ZIP Code 70131 estimated rate of 30.6%.
9

Do renters in ZIP Code 70131 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 70131 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 70131 spending 30 percent or more of their income on rent costs (52.9%) is approximately 3% lower than the Louisiana rate of 54.4% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 7% lower than the aforementioned 70131 rate of 52.9%.
10

What is the average household size of renter-occupied units in ZIP Code 70131?

The average household size of renter-occupied units in ZIP Code 70131 is lower than in the state of Louisiana overall. Annual household size of 2.40 in ZIP Code 70131 is about 3% lower than the Louisiana median of 2.48. Additionally, median household size in this New Orleans, LA region (2.40) is approximately 4% lower than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other Louisiana ZIP Codes