What New Orleans homeowners do for a living
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Business professionals and technical workers are most likely to own homes in New Orleans, according to an analysis shared exclusively with Axios.
Why it matters: Some careers offer a much clearer path to homeownership than others.
The big picture: The occupations with the highest homeownership rates haven't changed much in the past decade, per the National Association of Realtors analysis of census data.
- But rates increased almost across the board, especially among service workers.
By the numbers: Management and business professionals continue to lead in New Orleans metro, with roughly 71% owning homes in 2024, flat from 2014.
- STEM and technical workers gained ground. The category includes engineers and computer scientists.
- The data also showed improvements for sales, health care, construction and service industry workers.
- The figures include Metairie, NAR says.
Yes, but: The rates dipped for teachers, truck drivers, police officers and firefighters over the last decade in the metro area.
Zoom out: The U.S. overall homeownership rate is around 65%.
- Business professionals and educators are most likely to own homes, while service workers have the lowest rates.
- Explore the national figures.
Reality check: The biggest shifts over the 10-year period were at the city level.
- "It's not just about jobs. It's really about where those jobs are located, and how affordable housing is in those markets," NAR principal economist Nadia Evangelou tells Axios.
- In around 60% of 368 metro areas analyzed, the occupation most likely to own a home in 2024 wasn't the same as in 2014.
- Management and business workers now lead in half of metros, followed by STEM workers (lead in 24% of metros), then education and social services workers (12%).
Between the lines: A lack of affordable supply is keeping homeownership out of reach for many.
- The national median single-family home price grew to five times the median household income in 2024, according to a Harvard report in October.
The bottom line: "There are not enough homes at the price point people can afford to buy, and that's pushing even strong earners out of homeownership," Evangelou says.