It's tough to be a New Orleans renter
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About 30% of New Orleans renters spend more than half their income on housing, according to new census data.
Why it matters: An excessive rent burden can make it harder to afford other basic needs, like groceries and transportation — or to save for a down payment that can turn rent checks to a landlord into mortgage payments towards home equity.
By the numbers: The New Orleans rate of 31.5% is higher than the national average of 25.6%.
- Baton Rouge has one of the highest rent burdens in the country, with 33.3% of the population paying more than half their income on housing, the data shows.
- That's according to the 2023 1-year American Community Survey, and among metros with at least 200,000 households.
Between the lines: Geography is only part of the equation here — race plays a role, too.
- Nationally, 30.6% of Black renters spend more than half their income on rent, compared to 23.4% of white renters.
Stunning stat: The real median gross cost of renting — that's rent plus utility/energy costs — grew faster annually (+3.8%) than real median home values (+1.8%) last year for the first time in a decade, the Census Bureau points out.
The bottom line: It's tough out there to be a renter.