How Much Does It Cost to Live in New Orleans, Louisiana?

New Orleans is a medium city located in Louisiana with a metropolitan area population of 369,250. A couple could live a moderate lifestyle in New Orleans on a budget of $3,700 per month, or $44,404 per year.

Cost of Living in New Orleans, Louisiana

As noted above, the cost of living in New Orleans, Louisiana is $3,700 per month for a couple living a moderate lifestyle. This budget consists of $2,125 for housing related costs, $734 for food, and $841 for other costs, all of which will be broken down below.

Housing

  • A one-bedroom apartment in the city center of New Orleans is estimated to cost $1,776
  • Basic utilities including electricity, water, and gas will run about $261
  • High-speed internet averages $88

Food

  • Typical grocery costs of $519 per month include things like bread, eggs, milk, cheese, rice, chicken breast, bottled water, fruits, and vegetables
  • Alcohol including beer and wine for moderate home consumption costs about $110
  • Frequent coffees in a neighborhood café are estimated to be about $106

Other

  • Meals out are estimated to be $505 per month, including 4 meals in mid-range restaurants and 8 in inexpensive restaurants
  • Transportation costs of $138 for public transport passes and occasional taxis
  • Fitness center memberships of $134
  • Cinema tickets of $65 include several outings for international releases

Note that New Orleans, Louisiana is a very walkable city with a Walk Score of 93/100, which means you won’t need a car if you are living in the city center and you may even save some money by not using public transportation and taxis very often.

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Amount of Money Needed to Retire in New Orleans, Louisiana

Many people searching the internet for the cost of living in New Orleans, Louisiana are doing so to see if and when they can quit their jobs and retire. A popular and easy way to calculate your retirement number is using the 4% Rule.

The 4% Rule estimates that a person(s) could withdraw 4% of their retirement nest egg and never run out of money. Using this calculation, a couple would need an investment portfolio of $1,110,108 to live a moderate lifestyle in New Orleans, Louisiana.

Annual expenses of $44,404 ÷ 4% = $1,110,108 portfolio needed.

Of course, everyone’s financial situation is different, and the above calculation could change based on any other sources of passive income and social security income.

Summary

Overall, the cost of living in New Orleans, Louisiana is affordable coming in at $3,700 for a couple living a moderate lifestyle. Those seeking to retire could do so comfortably with a retirement portfolio of $1,110,108.

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