Cheap Apartments for Rent in the Lake Terrace Oaks Neighborhood of New Orleans, LA from $700 (12 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Lake Terrace Oaks area of New Orleans.

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Chateau Orleans
3 Bedroom Apartments

Chateau Orleans

6930-6948 Orleans AveNew Orleans, LA 70124
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Magnolia Gardens
1 to 2 Bedroom Apartments

Magnolia Gardens

6001 Downman RdNew Orleans, LA 70126
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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The Gentilly
1 to 2 Bedroom Apartments

The Gentilly

5700 Saint Anthony AveNew Orleans, LA 70122
  • Utilities Included
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7700 Downman Rd
2 Bedroom Apartments

7700 Downman Rd

7700 Downman RdNew Orleans, LA 70126
  • Utilities Included
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4408 Congress Dr
1 to 2 Bedroom Apartments

4408 Congress Dr

4408 Congress DrNew Orleans, LA 70126
  • Utilities Included

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.

Best Value Apartments for Rent in Lake Terrace Oaks, LA

As of April 16, 2026 the best value apartment in the Lake Terrace Oaks area is the $1.44 price per square foot 2680 Myrtle St Model at 2680 Myrtle St in the in the Lake Terrace neighborhood starting from $2,000. The second greatest value Lake Terrace Oaks apartment is the 2483 Verbena St Model at 2483 Verbena St, Unit 2483 starting at $1,195 with a $1.59 price per square foot in the Lake Terrace neighborhood. Here is today’s list of the best values for Lake Terrace Oaks apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2680 Myrtle St2680 Myrtle St3BR,3BA$1.44
2483 Verbena St, Unit 24832483 Verbena St2BR,1BA$1.59

Expert Rental Resources

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.

Articles, How-To's, and Tips

decorative image for A Local Expert’s Top Budget-Friendly Neighborhoods to Rent in New Orleans article

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.