Everything else equal, we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in New Orleans might be more expensive than living in rural Louisiana, there are certain neighborhoods that are definitely cheaper.
What exactly are those New Orleans neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and determine which neighborhoods in New Orleans are the cheapest using Saturday Night Science.
What’s the cheapest neighborhood to live in New Orleans for 2024? According to the most recent census data, Tall Timbers-Brechtel looks to be the cheapest New Orleans neighborhood to live in.
At this point, we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in New Orleans. You could be sacrificing location or crime rates for more space and cheaper groceries.
Read on to see how we determined the places around New Orleans that deserve a little bragging rights, or maybe you’re interested in the worst neighborhoods in New Orleans.
For more Louisiana reading, check out:
- Best Places To Live In Louisiana
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Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Cheapest Neighborhoods To Live In New Orleans For 2024
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Population: 13,387
Cost Of Living Index: 91 (14th cheapest)
Home Value To Income Ratio: 3.4 (6th cheapest)
Rent To Income Ratio: 0.017 (14th cheapest)
More on Tall Timbers-Brechtel: Data | Real Estate
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Population: 8,886
Cost Of Living Index: 95 (30th cheapest)
Home Value To Income Ratio: 3.3 (5th cheapest)
Rent To Income Ratio: 0.005 (3rd cheapest)
More on Read Blvd East: Data | Real Estate
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Population: 15,830
Cost Of Living Index: 95 (30th cheapest)
Home Value To Income Ratio: 3.3 (3rd cheapest)
Rent To Income Ratio: 0.017 (16th cheapest)
More on Old Aurora: Data | Real Estate
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Population: 8,709
Cost Of Living Index: 90 (10th cheapest)
Home Value To Income Ratio: 3.1 (cheapest)
Rent To Income Ratio: 0.026 (39th cheapest)
More on Village De L’est: Data | Real Estate
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Population: 677
Cost Of Living Index: 105 (44th cheapest)
Home Value To Income Ratio: 3.7 (7th cheapest)
Rent To Income Ratio: 0.0 (cheapest)
More on Lake Catherine: Data | Real Estate
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Population: 10,066
Cost Of Living Index: 98 (35th cheapest)
Home Value To Income Ratio: 3.2 (2nd cheapest)
Rent To Income Ratio: 0.019 (22nd cheapest)
More on Gentilly Terrace: Data | Real Estate
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Population: 1,497
Cost Of Living Index: 116 (55th cheapest)
Home Value To Income Ratio: 3.8 (8th cheapest)
Rent To Income Ratio: 0.005 (2nd cheapest)
More on Lake Terrace And Oaks: Data | Real Estate
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Population: 2,862
Cost Of Living Index: 91 (14th cheapest)
Home Value To Income Ratio: 4.4 (16th cheapest)
Rent To Income Ratio: 0.024 (38th cheapest)
More on Holy Cross: Data | Real Estate
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Population: 6,495
Cost Of Living Index: 105 (44th cheapest)
Home Value To Income Ratio: 4.1 (12th cheapest)
Rent To Income Ratio: 0.017 (13th cheapest)
More on Fillmore: Data | Real Estate
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Population: 3,235
Cost Of Living Index: 112 (52nd cheapest)
Home Value To Income Ratio: 4.3 (14th cheapest)
Rent To Income Ratio: 0.013 (5th cheapest)
More on East Riverside: Data | Real Estate
Methodology: How We Determined The Cheapest New Orleans Hoods In 2024
To rank the cheapest places to live in New Orleans, we had to determine what criteria define “cheap” and then apply Saturday Night Science.
Using Census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 68 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index, the “Cheapest City Neighborhood In New Orleans.” We’re lookin’ at you, Tall Timbers-Brechtel.
We updated this article for 2024. This is our fourth time ranking the cheapest neighborhoods to live in New Orleans. Skip to the end to see the list of all the neighborhoods in the city, from cheapest to most expensive.
Summary: Lowest Cost Places To Live In New Orleans
If you’re measuring the neighborhoods in New Orleans where prices are low, and it’s cheap to live, this is an accurate list.
The most affordable neighborhoods in New Orleans are Tall Timbers-Brechtel, Read Blvd East, Old Aurora, Village De L’est, Lake Catherine, Gentilly Terrace, Lake Terrace And Oaks, Holy Cross, Fillmore, and East Riverside.
As mentioned earlier, the neighborhoods in New Orleans aren’t all cheap. French Quarter takes the title of the most expensive neighborhood to live in New Orleans.
The most expensive neighborhoods in New Orleans are French Quarter, Pines Village, Garden District, Touro, and Dillard.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
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