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New Orleans vs Lafayette for Rental Property Investing

Side-by-side comparison of New Orleans, LA and Lafayette, LA — cap rates, rent, prices, and investment metrics.

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Lafayette wins 5–2 across key metrics
Lafayette leads on cash flow (4.83% vs 4.51% cap rate)
Metric
New Orleans, LA
Lafayette, LA
Est. Cap Rate
4.51%
4.83%
Median Home Price
$265,000
$210,000
Median Monthly Rent
$1,380
$1,150
1% Rule
0.52%
0.55%
GRM
16.0x
15.2x
Price / Income
5.9x
4.2x
Property Tax Rate
0.55%
0.52%
Vacancy Rate
6.2%
6.4%
Population Growth
0.4% / yr
0.6% / yr
Annual Appreciation
2.6%
2.2%
Population
376,971
126,000
Median Income
$45,200
$50,200

New Orleans vs Lafayette: Which Is Better for Investors?

Cash flow: Lafayette has the edge with an estimated cap rate of 4.83% compared to New Orleans's 4.51%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $265,000 in New Orleans vs $210,000 in Lafayette, while rents come in at $1,380/mo and $1,150/mo respectively.

Growth & appreciation: Lafayette is growing faster at 0.6% annually vs New Orleans's 0.4%. New Orleans leads on home value appreciation at 2.6% per year.

Costs & risk: Property taxes are 0.55% in New Orleans vs 0.52% in Lafayette. Vacancy rates of 6.2% and 6.4% are mixed — New Orleans has the tighter rental market.

Bottom line: Lafayette edges out New Orleans on most key metrics. While cap rates are moderate at 4.83%, Lafayette's overall profile is stronger. Use our free calculators to model specific deals in New Orleans or Lafayette.

New Orleans, LA
4.51% cap rate · $265,000 median · $1,380/mo
Full analysis →
Lafayette, LA
4.83% cap rate · $210,000 median · $1,150/mo
Full analysis →
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