New Orleans recorded its fifth consecutive quarter of negative absorption in Q3 2025, with a net loss of 21 units and a cumulative total of 404 net move-outs over the past year—most of which occurred in late 2024.
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As of the end of Q3 2025, about 1,000 multifamily units were under construction across the New Orleans metro, with roughly 70% of the pipeline aimed at serving middle-income renters.
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Average effective rent in the New Orleans metro fell 0.8% year over year in Q3 2025 to $1,292, continuing the gradual correction that began in late 2024.
