New Orleans is reportedly leading U.S. cities in falling apartment rents, according to a May 2019 analysis by Rent.com.
The report indicates that the average rent for a one-bedroom apartment in New Orleans fell over 11% from December 2017 to December 2018. Renters on average paid just over $1,400 for a one-bedroom unit in December of 2018.
But, local rates are still above average since nationally the average is just over $1,300 for a one-bedroom apartment.
In New York, which is the priciest market, a one-bedroom apartment is roughly $4,100 a month.
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