70118 — Orleans Parish, Louisiana Market Snapshot
Housing market data for zip code 70118 in Orleans Parish, Louisiana. Updated monthly with median prices, days on market, and more.
Market Sales Data
78 sales in 2026 (year to date)
Median Sale Price
$492,000
Days to Sell
54
Homes Sold
78
Inventory
88
Sale-to-List
95.3%
New Listings
101
Price/SqFt
$289
Pending Sales
97
Conforming Loan Available
Most homebuyers in 70118 can comfortably use conventional financing. The median home price of $492,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
70118's market is balanced with homes taking an average of 54 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
The average home in 70118 sells for 4.7% below asking price (95.3% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 70118 can comfortably use conventional financing. The median home price of $492,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 70118 are set at the county level.
2026 Loan Limits — Orleans Parish
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 70118
To purchase the median home at $492,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,920.
Monthly Payment
$3,920
Income Required
$167,981
Principal & Interest
$3,032/mo
Down Payment (5%)
$24,600
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 70118.
Estimated Monthly Payment
$3,195
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