Cheap Apartments for Rent in New Orleans, LA from $500 (393 Rentals)

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Search the lowest-cost Apartments available for rent right now in New Orleans.

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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property at 4125 Magazine St

4125 Magazine St

New OrleansLA70115

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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New Orleans, LA Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in New Orleans, LA

Pricing Updated: 09/23/2025

Current apartment rentals in the New Orleans, LA area range in price from $700 to $24,802 with an overall median price of $9,302. The three New Orleans neighborhoods with the lowest median rent pricing are Sherwood Forest at $700, Edgelake at $700, and Lake Forest East at $785. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for New Orleans Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Sherwood Forest$1,320$700204
Edgelake$1,335$700198
Lake Forest East$1,441$78518
Little Woods$1,441$700217
Pines$1,441$70023
Pines Village$1,441$78521
Plum Orchard$1,441$78523
Read Boulevard East$1,441$700203
Read Boulevard West$1,441$700214
Venetian Isles$1,441$700201

Cheapest Available New Orleans Apartments for Rent

 

The cheapest available apartment rental in New Orleans, LA is a Studio unit found at Whispering Palms in the Old Aurora neighborhood priced from $699. Marquis in the Mid-City neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $717. Here is today’s list of the most affordable New Orleans apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Whispering PalmsStudioStudio,1BA$699
MarquisB32BR,2BA$717
Carmel BrookBasin1BR,1BA$760
CrossroadsSStudio,1BA$770
Laguna Reserve1 Bedroom1BR,1BA$785
Laguna Creek1 Bedroom1BR,1BA$785
Westchase ApartmentsStudio BStudio,1BA$786
Chateau NapoleonClassic StudioStudio,1BA$788
PeppertreeStudioStudio,1BA$795

Best Value Apartments for Rent in New Orleans, LA

As of September 23, 2025 the best value apartment in the New Orleans area is the $0.90 price per square foot 2625 A P Tureaud Ave Model at 2625 A P Tureaud Ave, Unit 2625 AP Tureaud Ave in the in the City Park neighborhood starting from $1,800. The second greatest value New Orleans apartment is the 6210 Roddie St Model at 6210 Roddie St, Unit Apartment D starting at $1,925 with a $1.07 price per square foot in the Westbank neighborhood. Here is today’s list of the best values for New Orleans apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2625 A P Tureaud Ave, Unit 2625 AP Tureaud Ave2625 A P Tureaud Ave3BR,2BA$0.90
6210 Roddie St, Unit Apartment D6210 Roddie St3BR,2BA$1.07
2203 Louisiana Ave, Unit 22032203 Louisiana Ave3BR,1BA$1.05
3029 Banks St3029 Banks St3BR,1BA$1.09
1036 Eli Ct1036 Eli Ct2BR,1.5BA$1.00
2325 Columbus St2325 Columbus St2BR,1BA$1.05
2323 Columbus St, Unit 2323 Coulumbus St2323 Columbus St2BR,1BA$1.07
Carol SueCall Now to Confirm Availability*3BR,1.5BA$1.04
Lakeland Manor2 Bed / 1.5 Bath2BR,1.5BA$1.00
Laguna Reserve1 Bedroom1BR,1BA$1.05

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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New Orleans Overview

The largest metro area in all of Louisiana and a truly unique city known the world over for its cuisine, culture and oh-so-famous Mardi Gras, New Orleans is a destination that simply must be experienced to be believed. Combining French and Creole-inspired architecture, open-faced balcony terraces and omnipresent jazz music filling the air, New Orleans' particular brand of magic has been charming residents for centuries making living in apartments in New Orleans the bees knees.

Why live in New Orleans, LA?

Louisiana boasts a truly unique charm, and there is no denying that New Orleans is its central hub. From the amazing cuisine to the rarely-shy populace, New Orleans has a distinct character that simply cannot be replicated. Flush with romantic ambiance, eye-popping architecture, historic pubs, world-class eateries and more crawfish than you can shake a stick at, New Orleans is a unique treasure known coast-to-coast. With a plethora of available New Orleans apartments ready and waiting for you, this city is a prime locale.

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore New Orleans, LA Rentals by Map

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See the most popular apartments and homes in New Orleans, LA

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Getting Around New Orleans, LA

Walk Score®

75 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

74 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

49 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap New Orleans Apartments

What is a cheap apartment in New Orleans?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in New Orleans is under $795.

What is the price of a cheap apartment in New Orleans?

The cheapest apartment in New Orleans is Carmel Brook which is listed at $760, while the average apartment in New Orleans costs $9,302.

What types of apartments are the cheapest in New Orleans?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 1,571 regular apartments in New Orleans that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in New Orleans?

Cheap apartments in New Orleans have an average cost of $459 which is $8,843 cheaper than the average rent for all rentals in New Orleans.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Local Expert’s Top Budget-Friendly Neighborhoods to Rent in New Orleans

Written by: Melissa Maxwell

New Orleans is known as The Big Easy, but it's not always easy on the wallet! It's a city built around attracting tourists, so naturally everything is going to be on the pricey side.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.