New Orleans now ranks eighth in the country among the top cities with the largest increases since 2011, according to a survey by the website SmartAsset.com. Surveyors used online rental data prices and compared them to income data from the U.S. Census Bureau to determine their rankings.
If you think the rent is too damn high, you may be right: "The median income in New Orleans was stagnant between 2011 and 2014, increasing by less than $500," SmartAsset.com reported. "Meanwhile, fair market rents increased by nearly 12%. The result? New Orleans's rental market is rapidly becoming one of the least affordable for residents. Fair market rent in New Orleans is equal to 41% of median income, eighth highest of America's 50 largest cities."
In a table ranking the cities where rent is becoming least affordable, New Orleans came in above Los Angeles, Chicago, Seattle and many other larger cities.