70116 — Orleans Parish, Louisiana Market Snapshot
Housing market data for zip code 70116 in Orleans Parish, Louisiana. Updated monthly with median prices, days on market, and more.
Market Sales Data
20 sales in 2026 (year to date)
Median Sale Price
$382,500
Days to Sell
165
Homes Sold
20
Inventory
94
Sale-to-List
94.3%
New Listings
57
Price/SqFt
$519
Pending Sales
28
Conforming Loan Available
Most homebuyers in 70116 can comfortably use conventional financing. The median home price of $382,500 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
With homes sitting for 165 days on average, 70116 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
The average home in 70116 sells for 5.7% below asking price (94.3% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 70116 can comfortably use conventional financing. The median home price of $382,500 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 70116 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 70116
To purchase the median home at $382,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,081.
Monthly Payment
$3,081
Income Required
$132,025
Principal & Interest
$2,357/mo
Down Payment (5%)
$19,125
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 70116.
Estimated Monthly Payment
$2,517
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