Tag: lat_29.9759983

Best Places to Airbnb in Louisiana: Top areas for real estate investment near New Orleans

Post author By Magdalena Jara
Post date March 20, 2023

best places to Airbnb in louisiana

Key Takeaways

♦ Airbnb hosts operating short-term rentals in New Orleans are able to earn a good passive income thanks to its relatively low cost of living and strong tourism market.

♦ We feature the benefits that investors can enjoy when investing in short-term rentals in New Orleans and nearby cities in Louisiana.

♦ Find out the top 10 neighborhoods and nearby cities in New Orleans for Airbnb investments along with their respective Airbnb data.

Introduction

Best known as the Big Easy, New Orleans is situated in southeastern Louisiana along the Mississippi River and is considered the economic and commercial epicenter of the Gulf Coast region.

New Orleans is renowned worldwide for its creole cuisine, musical background, and thrilling festivals & events. Living in this city means that your days will be filled with exciting experiences.

The Big Easy is a city that can easily make anyone fall in love with its mix of cultures, streets filled with lively activities, and exquisite gastronomy. Moreover, it has a stable tourist market throughout the year. This has drawn many investors’ attention over the past few years. But you may wonder, “which are the best areas to Airbnb in New Orleans?” – don’t be troubled, we got you!

In this article, you will discover the best places to Airbnb in New Orleans, Louisiana, and some of the advantages of Airbnb investment properties in this city. Curious about the info? Then continue reading.

Advantages of Real Estate Investments in New Orleans, LA

Starting an Airbnb business is indeed a good way of earning a passive income since this city offers attractive investment opportunities to investors.

But what are the main advantages that this location offers to property investors? Check out some of the significant reasons why an Airbnb investment property in New Orleans is a good idea:

♦ Relatively low cost of living

New Orleans is also a landlord-friendly city with a housing market that offers a variety of prices that remains relatively low. The average housing value in this city is $258K and prices were down 0.3% compared to last year as confirmed by Zillow Index.

On the other hand, Hurricane Katrina hit New Orleans in 2005, leaving devasting effects on the city and this brought down the cost of living. To date, New Orleans’ living cost is fairly lower than other major cities like Baltimore and Philadelphia. In fact, New Orleans is one of the cities where you can find cheap rental properties.

♦ No shortage of leisure activities

New Orleans offers a wide variety of entertaining activities, so you will never get bored in this city. The Big Easy has an excellent culinary scene, exciting nightlife, and a plethora of festivals. The city hosts big events almost every weekend, some of which even last for weeks, such as the popular Mardi Gras. Thanks to this, the city attracts a bunch of visitors.

♦ Good opportunities for short-term rentals

The Big Easy draws a great number of visitors annually. In fact, New Orleans’ economy is mainly driven by tourism and around 19M travelers visit the city annually. This leads the city to earn 3rd place as a top destination for city lovers in the US in 2022. For this reason, there’s a high demand for rental properties.

In addition, Airbnb was legalized in this market in 2016, and regulations for short-term rentals in New Orleans aren’t very strict either. Thus, it’s quite easy to get into the Airbnb business and earn a steady passive income in New Orleans.

Is Airbnb Profitable in New Orleans, LA?

Take it easy, Airbtics assures you that investing in short-term rentals in New Orleans is certainly profitable for real estate investors. While investors can earn a nice rental income, they still should keep in mind that the level of profitability depends on the property type and location.

According to Airbtic’s analytics tool, an average Airbnb host can make up to $46,907 per year with a median occupancy rate of 65% for operating an Airbnb listing in New Orleans. With over 4,677 Airbnb listings, New Orleans is surely a catch for real estate investors and hosts.

10 Most Profitable Areas for Airbnb near New Orleans, LA

New Orleans is the most populous city in the state of Louisiana. It has around 72 neighborhoods distributed around the city limits. Thus, it’s easy to have a hard time finding the best location to set up your Airbnb listing in New Orleans.

Check out the best neighborhoods and nearby cities in New Orleans that are highly recommended for Airbnb investment properties:

1. Mid-City, New Orleans

Total Number of Airbnb Listings: 164
Best bedroom size: 4 bedrooms
Median property price (4 bedrooms): $365,000
Airbnb Annual revenue: $102,874
Gross rental yield: 28.18%

2. Leonidas, New Orleans

Total Number of Airbnb Listings: 81
Best bedroom size: 3 bedrooms
Median property price (3 bedrooms): $219,000
Airbnb Annual revenue: $58,004
Gross rental yield: 26.45%

3. Warehouse District, New Orleans

Total Number of Airbnb Listings: 290
Best bedroom size: 4 bedrooms
Median property price (4 bedrooms): $755,000
Airbnb Annual revenue: $197,812
Gross rental yield: 26.20%

4. Faubourg Livaudais, New Orleans

Total Number of Airbnb Listings: 78
Best bedroom size: 3 bedrooms
Median property price (3 bedrooms): $425,000
Airbnb Annual revenue: $83,755
Gross rental yield: 19.71%

5. West Riverside, New Orleans

Total Number of Airbnb Listings: 85
Best bedroom size: 4 bedrooms
Median property price (4 bedrooms): $649,000
Airbnb Annual revenue: $64,852
Gross rental yield: 17.78%

6. Gulfport, MS

Distance from New Orleans: 68 miles
Total Number of Airbnb Listings: 319
Best bedroom size: 3 bedroom
Median property price (3 bedroom): $165,000
Airbnb Annual revenue: $45,619
Gross rental yield: 27.65%

7. Baton Rouge, LA

Distance from New Orleans: 82 miles
Total Number of Airbnb Listings: 328
Best bedroom size: 1 bedroom
Median property price (1 bedroom): $105,000
Airbnb Annual revenue: $26,147
Gross rental yield: 24.90%

8. Grand Isle, LA

Distance from New Orleans: 107 miles
Total Number of Airbnb Listings: 37
Best bedroom size: 3 bedrooms
Median property price (3 bedrooms): $299,000
Airbnb Annual revenue: $78,447
Gross rental yield: 26.24%

9. Lafayette, LA

Distance from New Orleans: 135 miles
Total Number of Airbnb Listings: 184
Best bedroom size: 4 bedrooms
Median property price (4 bedrooms): $270,000
Airbnb Annual revenue: $49,865
Gross rental yield: 18.47%

10. Pensacola, FL

Distance from New Orleans: 173 miles
Total Number of Airbnb Listings: 555
Best bedroom size: 2 bedrooms
Median property price (2 bedrooms): $179,000
Airbnb Annual revenue: $42,035
Gross rental yield: 23.48%

Conclusion

Overall, the neighborhoods and nearby cities in New Orleans are some of the best places to invest in Louisiana state as they offer great investment opportunities to investors.

Moreover, we encourage you to take advantage of the digital era by making use of analytics tools to leverage your profitability. Check out Airbtics’ short-term rental estimator and discover how much you can earn with Airbnb. Stand out among your competitors and maximize your earnings now!

Explore The Most Profitable Airbnb Locations Near New Orleans

Tags Airbnb Investments, lat_29.9759983, lng_-90.0782127

Airbnb Investment All About Airbnb

Airbnb Property Investment: Properties for Sale in New Orleans, Louisiana

Post author By Magdalena Jara
Post date December 28, 2022

Image by Oliver Weidmann from Pixabay

airbnb property investment New Orleans

Located by the banks of the Mississippi river, New Orleans stands outs as one of the most interesting cities in the US with a rich history, unique gastronomy and an incredible music scene. Although this city has gone through a lot of catastrophes, such as Hurricane Katrina, this did not stop it from resurfacing stronger and becoming even more captivating.

It’s understandable if you are considering investing in the beautiful city of New Orleans, but before deciding to purchase a property here, it is important to analyze the major costs, revenue and yield accurately. In addition, it is also a good idea to learn more about the Airbnb rules in New Orleans to avoid major problems while running your listing.

Based on Zillow Home Value, home values in New Orleans have gone up 5.8% compared to last year and the average price is $283K.

Airbnb occupancy rates by city declare that an average host in New Orleans can earn up to $3,078 during the peak season of February. With over 5,396 Airbnb listings in New Orleans, it’s certainly a catch for property investors!

Aside from looking at a property’s proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability.

In this article, we’ll discuss the metrics in order to gauge the best property investment in New Orleans. This includes the best website recommendations for property investment, defining property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Continue reading to learn more!

airbnb property for sale Scranton

Pros of Buying An Airbnb Property in New Orleans

1. Low Living Cost

New Orleans’ cost of living is considerably lower than popular cities like Baltimore and Atlanta. Although the real estate market became competitive after the Hurricane Katrina calamity, people can still find properties for a reasonable price. Based on Zumper, the average rental prices are $1,520 and $1,800 for one and two bedrooms respectively.

2. Consolidated Touristic Market

When we talk about New Orleans, the first thing that possibly comes to our minds is its exquisite gastronomy, lively nightlife and exciting festivals. Thanks to this enjoyable atmosphere, visitors arrive in the city all year round. As a matter of fact, New Orleans welcomes around 19M visitors annually, no wonder it earned the third place as a top destination for city lovers in the US for 2022

Cons of Buying A Property in New Orleans

1. Prone to natural disasters

Sadly, not everything can be ideal and rosy in this world, right? Because New Orleans is susceptible to hurricanes and tropical storms each year. Plus, the city is also vulnerable to flooding due to New Orleans’ intense rains.

2. High Crime Rate

Unfortunately, New Orleans doesn’t have the best reputation when it comes to crime rates. In fact, the city ranks in the top 10 of almost all crime categories. Neighborhoods like Central City, South Seventh, Desire and Saint Roch are usually considered the most dangerous places here.

Is Property Investment Profitable in New Orleans?

Using an Airbnb profit estimator, it was discovered that a 2-bedroom apartment in New Orleans can generate an annual revenue of $79,178 with a steady occupancy rate of 73% and a nightly rate of $269.

airbnb property investment New Orleans

Modern Houses for Sale in New Orleans, LA

Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. You can find properties for sale in popular New Orleans neighborhoods like French Quarter, Garden District and Marigny. However, it’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.

At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the houses for sale in New Orleans along with the calculated gross rental yield, cash-on-cash return, and annual revenue.

Disclaimer: The properties featured in this article are indicated as examples and there is a possibility that they have already been sold and removed from the website's listings.

1205 St. Charles Ave #608, New Orleans, LA 70130

1. Studio-type Property for Sale New Orleans

3.4 miles Audubon Charter School
Asking Price: $139,900

GROSS RENTAL YIELD	20.56%
ANNUAL REVENUE	$28,770
CASH ON CASH RETURN	35.93%

2601 Carondelet St Unit K, New Orleans, LA 70130

2. 1-Bedroom Type Property for Sale New Orleans

1.7 miles Lusher Charter School
Asking Price: $155,000

GROSS RENTAL YIELD	20.52%
ANNUAL REVENUE	$31,804
CASH ON CASH RETURN	35.79%

15 Petit Bayou Ln, New Orleans, LA 70129

3. 2-Bedroom Type Property for Sale New Orleans

Walking distance to Hartkopf Park
Asking Price: $165,000

GROSS RENTAL YIELD	25.52%
ANNUAL REVENUE	$42,116
CASH ON CASH RETURN	50.81%

6307 Pauline Dr, New Orleans, LA 70126

4. 3-Bedroom Type Property for Sale New Orleans

1.8 miles to Benjamin Franklin High School
Asking Price: $211,500

GROSS RENTAL YIELD	25.27%
ANNUAL REVENUE	$53,451
CASH ON CASH RETURN	50.05%

1806 08 Ursulines Ave, New Orleans, LA 70116

5. 4-Bedroom Type Property for Sale New Orleans

3.0 miles to Edward Hynes Charter School
Asking Price: $315,000

GROSS RENTAL YIELD	25.08%
ANNUAL REVENUE	$78,993
CASH ON CASH RETURN	49.46%

Conclusion

Generally speaking, New Orleans can be a good place to live and invest in Airbnb property since it’s a tourist destination as well as a major commercial and economic hub. The data points mentioned in this article for New Orleans such as Airbnb occupancy rates, annual revenue, and average daily rate should be your primary basis before investing in a property.

To make sure that a property can generate a good cash flow, the right neighborhood should be studied and potential revenue should be calculated using an Airbnb income calculator. This is certainly what you need for success in the long run and to stand out among your competitors!

Tags Airbnb Investments, lat_29.9759983, lng_-90.0782127

Airbnb Rules All About Airbnb

Airbnb Rules in New Orleans

Post author By Robyn Peña
Post date October 7, 2022

With the new Airbnb rules in New Orleans, Louisiana, this article explains the regulations & profitability of short-term rentals in the area.

Home > Resources > Airbnb Rules >

With the new Airbnb rules in New Orleans, Louisiana, this article explains the regulations & profitability of short-term rentals in the area.

August 7, 2023

Louisiana’s beautiful city of New Orleans is not only known for its famous creole & unique dialects, but also for profitability on Airbnb! In this article, we featured Airbnb regulations in New Orleans, along with its profitability based on Airbnb’s key metrics. Continue reading and learn more about the Airbnb laws in New Orleans.

Is Airbnb legal in New Orleans?

To cut the story short, yes – Airbnb is legal in New Orleans! As of August 2022, there are 42,294 nights available in New Orleans from Airbnb alone. Sextant Stays manages 244 listings, while Sonder and Sam operate 66 and 64 respectively.

Airbnb Profitability in New Orleans

Currently, there are 4,057 Airbnb listings in New Orleans, with 83% of entire houses earning up to $3,769 a month. The Average Occupancy Rate in New Orleans is 66% and the average daily rate is $163. According to short-term rental data source Airbtics, a 2-bedroom apartment in New Orleans can make up to $77,033 annually. Check out our Short-term Rental Estimator to know how much profit you can make with Airbnb!

Short-term Rental Laws in New Orleans

According to the New Orleans government website, it is necessary to use new application forms and obtain both an Operator permit and Owner permit(s) for the unit(s) you will be renting out if your STR permit was issued before December 1, 2019, and has expired.
Short-term rentals in New Orleans are allowed to operate depending on zoning areas. STR is prohibited in the Garden District, Riverfront Overlay, Bywater, and Marigny sub-districts.
Hosts are required to obtain an owner and operator short-term rental license and display their license numbers on their listing page if they want to offer short-term stays (less than 30 consecutive nights at a time).
If your listing is in a residential zone, you’re the property owner, and you have a valid homestead exemption, you may be eligible for an RSTR license. There are 3 different types of RSTR permits: RSTR-Partial, RSTR-Small, RSTR-Large. The type you’re eligible for depends on how many units and how many rooms you want to rent out.

License types in New Orleans

Based on Airbnb in New Orleans, here are the types of short-term rental (STR) owner licenses divided into two categories: Residential STR (RSTR) and Commercial STR (CSTR).

1. Residential Partial Unit (RSTR- Partial)

RSTR-Partial licenses allow property owners to rent up to 5 guest bedrooms to up 10 guests in 1 dwelling unit such as a townhouse, single-family home, apartment, or condo.
Hosts must have a valid homestead exemption in their name and live on the property. Only property owners can get this license. Renters can’t get this license. The fee for this license type is $250. A host is limited to 1 RSTR-Partial license.

2. Residential Small (RSTR – Small)

RSTR-Small licenses allow property owners to rent up to 5 guest bedrooms to up 10 guests in 1 dwelling with no more than 4 dwelling units (i.e. an apartment building with no more than 4 apartments or a single-family home with a separate mother-in law unit).
Hosts must have a valid homestead exemption in their name and live on the property. Only property owners can get this license. Renters can’t get this license. The fee for this license type is $500. A host is limited to 1 RSTR-Small license but can have 1 RSTR-Partial license in the same building.

3. Residential Large (RSTR-Large)

RSTR-Large licenses allow property owners to rent up to 6 guest bedrooms to up 12 guests in 3 dwelling units in a dwelling with more than 4 dwelling units.
Hosts must have a valid homestead exemption in their name and live on the property. Only property owners can get this license. Renters can’t get this license. The fee for this license type is $500. A host can get up to 3 RSTR-Large licenses.

4. Commercial (CSTR)

Property owners or renters in non-residential zones can apply for a CSTR license.
CSTR licenses allow hosts to rent up to 5 guest bedrooms to up to 10 guests in any building where fewer than 25% of the total dwelling units are currently licensed for STRs. The fee for this license type is $1000. There is no limit to how many CSTR licenses a host can get.

Conclusion

In my personal opinion, the biggest advantage of running a short-term rental is high return! I’ve talked to hundreds of Airbnb hosts over the past years and frequently met hosts making 15 – 30% gross rental yields, and 10-20% net. It’s also fun to do!

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Key Takeaways

Introduction

Advantages of Real Estate Investments in New Orleans, LA

♦ Relatively low cost of living

♦ No shortage of leisure activities

♦ Good opportunities for short-term rentals

Is Airbnb Profitable in New Orleans, LA?

10 Most Profitable Areas for Airbnb near New Orleans, LA

1. Mid-City, New Orleans

2. Leonidas, New Orleans

3. Warehouse District, New Orleans

4. Faubourg Livaudais, New Orleans

5. West Riverside, New Orleans

6. Gulfport, MS

7. Baton Rouge, LA

8. Grand Isle, LA

9. Lafayette, LA

10. Pensacola, FL

Conclusion

Explore The Most Profitable Airbnb Locations Near New Orleans

Pros of Buying An Airbnb Property in New Orleans

1. Low Living Cost

2. Consolidated Touristic Market

Cons of Buying A Property in New Orleans

1. Prone to natural disasters

2. High Crime Rate

Is Property Investment Profitable in New Orleans?

Modern Houses for Sale in New Orleans, LA

1. Studio-type Property for Sale New Orleans

2. 1-Bedroom Type Property for Sale New Orleans

3. 2-Bedroom Type Property for Sale New Orleans

4. 3-Bedroom Type Property for Sale New Orleans

5. 4-Bedroom Type Property for Sale New Orleans

Conclusion

Is Airbnb legal in New Orleans?

Airbnb Profitability in New Orleans

Short-term Rental Laws in New Orleans

License types in New Orleans

Conclusion

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