MARKET SNAPSHOT

New Orleans q1 2025

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AVERAGE RENT

$1,295 Q1 2025

OCCUPANCY RATE

91.4% Q1 2025

QUARTERLY NET ABSORPTION

-27 Q1 2025

ANNUAL RENT CHANGE

1.4% Q1 2025

ANNUAL OCCUPANCY CHANGE

-60 BPS Q1 2025

QUARTERLY COMPLETIONS

-144 Q1 2025

KEY TAKEAWAYS
Net absorption remained negative in Q1 2025, but losses have narrowed significantly from previous quarters, suggesting early signs of stabilization in demand.
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Annual rent growth reached 1.4%, slightly outperforming the national average despite lower renter demand. As new construction slows and supply pressures ease, rent performance is expected to strengthen in the coming quarters.
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Occupancy held steady at 91.4% for the second consecutive quarter—just below the post-pandemic average of 92.0%—reflecting a soft but stable leasing environment that is expected to gradually improve as the construction pipeline continues to shrink.
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