How Community Investments Are Shaping Home Values and Lifestyle In New Orleans

New Orleans is one of the best American cities if you’re looking for culture. Jazz, Mardi Gras, diverse architecture, and Bourbon Street are only some of the reasons you’ll find yourself here. The city prides itself on its social fabric and is one of the most unique towns thanks to its residents. How have recent community investments shaped New Orleans? Here are some of the historic city’s recent developments.

What Has Helped New Orleans Real Estate?

The New Orleans real estate market has set a new course in the last few years by emphasizing the cultural and social aspects. Here are a few changes you can see in the Big Easy.

Local Investments

New Orleans has a population of around 356,000, making it one of the largest cities in the South. The residents are integral to its culture, so investing in the community is a priority for city leaders.

Last December, the New Orleans City Council allocated $5.6 million for 200 local organizations and nonprofits to improve youth and community welfare. For instance, some recipients include the 18th Ward, the Ellis Marsalis Center for Music and Girls on the Run New Orleans. These grants improve neighborhoods, engage communities, raise morale and offer uplifting experiences in the city. 

New Orleans City Council members also prioritized housing investments in their most recent budget. City housing programs received about $1.57 billion for the 2024 fiscal year. Affordable housing is one of the primary goals for the Big Easy as the city council created a $17 million trust fund to support new construction.

Outside Investments

Seeing New Orleans succeed is a priority, and outside groups have noticed opportunities to improve the city. The city’s median age reached nearly 39 years old, a new high demonstrating the aging population. Affordable housing is essential for older adults, so organizations have taken steps to support these residents and foster healthier communities.

In 2021, the Gulf Coast Housing Partnership and CVS Health announced a $25 million partnership to build 224 affordable housing units for Louisiana seniors. 

Zoning Ordinances

The city is over 300 years old, and some urban planning might not fit your needs today. The Office of Community Assets and Investment (OCAI) has developed strategies to modernize land use while preserving affordable housing and supporting the city’s neighborhoods. Changing zoning laws has been a significant step in helping New Orleans neighborhoods.

In late 2021, the city council passed legislation to permit triplexes and fourplexes and increase the number of units available. Properties adding these extra levels must keep rent affordable for 15 years to receive permission for this development.

City Redevelopment

New Orleans’ age and small size give the town an intimate feeling as you walk the streets. Many buildings here have existed for centuries, providing a unique architectural feel that’s hard to find in other cities. Finding new opportunities can be challenging in New Orleans, so the OCAI has dedicated plans to redevelop the area while maintaining its social fabric and culture.

Government officials have worked with business and community leaders to find underused properties. The city identifies these places and lets the New Orleans Redevelopment Authority (NORA) take over the bid process to find developers.

The goal is to improve these buildings for the community, creating new businesses and affordable housing. For instance, NORA data shows the city invested $1.75 million in affordable housing construction in 2022.

How Do Home Values Stack up in New Orleans?

New Orleans home values have been turbulent in recent years because of slowed development and supply chain disruptions. The median home price fell to about $325,000 in February 2024 — a decline from its $400,000 peak in June 2022.

However, home values have seen appreciation in particular New Orleans neighborhoods. Area code 70112 — including the French Quarter — saw its price per square foot increase from $386 to $438 in 2023. While this center of New Orleans is popular because of its architecture and culture, other areas have also seen increased home values due to community investments. For instance, St. Charles Parish homes have appreciated due to post-Katrina building efforts.

What Can You Expect in New Orleans Homes?

New Orleans is world-famous for its architecture, blending influences from French, Spanish, Creole and many other cultures. What makes Crescent City homes unique? Here are the typical features you’d see when walking the streets.

Diverse Architecture

New Orleans has become synonymous with shotgun houses, dwellings where you must pass by each room to reach the back door. This housing idea became popular in the early 19th century as people from the Caribbean migrated to the Big Easy. Homeowners back then lived without air conditioning, so they had to be creative when designing their structures. A shotgun home’s design gives it better airflow, helping you stay cooler in the summertime.

Screened Porches

Summers in New Orleans get hot and humid, creating a ripe environment for mosquitos and other unwanted pests. Louisiana has about 60 mosquito species, and many want to enter your house to cool off. Thus, New Orleans residents often install screened porches to ward off these insects and protect their families and pets.

New Orleans architecture also includes shades and awnings to block the blazing summer sun. These fixtures can block winds up to 60 mph that you might see in a thunderstorm and keep heat away from the home.

Balconies and Galleries

The old architecture features balconies and galleries throughout the city’s homes, especially if you’re in the French Quarter. While similar, these features have tiny differences. New Orleans residents will tell you a balcony is a viewing area outside your window. In contrast, a gallery is the same idea but with poles.

Some people climb up the poles to get better views of the parades, thus prompting locals to grease the poles as a tradition. Mardi Gras brings about 1 million annual visitors because of the city’s celebrations, so the greasing is more important than you might think.

Colorful Houses

Purple and yellow aren’t just the colors of the Louisiana State University Tigers — they’re two of many shades you can see throughout the city’s architecture. Colorful houses are a New Orleans staple, as you’ll find unique designs and combinations in the French Quarter, the Irish Channel, the Garden District and plenty of other sections.

These houses remind you of the unique communities throughout the Big Easy. The city and its residents are integral to continuing this culture and shaping the lifestyles and home values.

New Orleans Architecture and Community Investments

New Orleans is a popular destination for those who enjoy classic architecture, incredible food and a bustling nightlife. Residents have seen tough times in the past few decades, but the outlook is positive thanks to community investments. Local and outside groups have allocated resources toward redevelopment, zoning law changes and support for nonprofit organizations. The Big Easy’s footprint will grow while keeping its influences from cultures worldwide.

*Written by Rose Morrison renovated.com