Commercial Real Estate Market in New Orleans, LA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
2,483 active listings and 10,931 off-market properties in New Orleans, LA. Commercial property asks $135/SF to buy and $23.59/SF/Yr to lease. Office vacancy runs 9.6%, the loosest of the segments tracked here.
Market Trends
New Orleans, LA spans 180.3 square miles in Orleans County, Louisiana. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in New Orleans, LA asks $25.66/SF/Yr to lease. Vacancy runs 9.6% in 2025, up from 8.9% in 2019. Down from a 2024 peak of 11.6%.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate %
Retail
Retail space in New Orleans, LA asks $23.13/SF/Yr to lease. Vacancy runs 6.3% in 2025, up from 5.5% in 2019. Nearly 1.8x the 2023 low of 3.6%.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate %
Industrial
Industrial space in New Orleans, LA asks $19.01/SF/Yr to lease. Vacancy runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Average Lease Price $/SF/Yr
Listings
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in New Orleans, LA runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Market overview
Demographics & Economy
New Orleans, LA has 422,866 residents in 215,470 households. Density runs 2,345 people per square mile. Median household income here is $59,895 and median gross rent $1,233 a month.
422,866
Population
215,470
Households
2
Avg Household Size
37
Median Age
42%
College-Educated
90%
High-School Grad
180.3 sq mi
ZIP Area
2,345
Density / Sq Mi
$59,895
Median Household Income
$40,616
Median Earnings
$1,233
Median Rent
$335,375
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Gretna | $174 (county avg) | $20.87 |
| Harvey | $174 (county avg) | $14.74 |
| Marrero | $174 (county avg) | $16.44 |
| Westwego | $174 (county avg) | $10.33 |
Commercial property in New Orleans, LA asks $135/SF. The 4 bordering markets run from $174/SF in Gretna to $174/SF in Gretna, and the city sits below their $174/SF median.
Frequently Asked Questions
What is the average price per square foot for commercial property in New Orleans?
Commercial property in New Orleans, LA asks an average of $135 per square foot. The 7 most recent recorded sales traded at a median of $83/SF, so asking sits 62% above the achieved median.
How much does it cost to lease commercial space in New Orleans?
Asking lease rates in New Orleans, LA average $23.59 per square foot per year. Office asks $25.66/SF/Yr as of Q2 26, up from $17.80/SF/Yr in Q1 26.
What is the office vacancy rate in New Orleans?
Office vacancy in New Orleans, LA is 9.6% as of 2025, up from 8.9% in 2019. Retail vacancy is 6.3%, below Office vacancy.
Which property type has the lowest vacancy in New Orleans?
Retail has the lowest vacancy in New Orleans, LA at 6.3%, inside a 3.6–7.2% band since 2019. For comparison: office 9.6%, industrial 7.9% (South) and multifamily 11.3% (South).
How does New Orleans compare to nearby markets on price?
New Orleans, LA asks $135/SF against $174/SF in Gretna, $174/SF in Harvey, $174/SF in Marrero and $174/SF in Westwego.
Where does Realmo's New Orleans market data come from?
Realmo compiles New Orleans, LA figures from 7 recent recorded sales, 2,057 active sale listings, 426 active lease listings, 10,931 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 2,057 active for-sale and 426 active for-lease listings in New Orleans, LA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- industrial vacancy is reported at South region level and multifamily vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
