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
