New Orleans-Metairie, LA vs Vermilion Parish, LA
A 2-bedroom in Vermilion Parish costs $497 less per month than New Orleans-Metairie ($834 vs $1,331). Median income is $62,271 in New Orleans-Metairie and $57,537 in Vermilion Parish. That's a difference of $5,964 per year in housing costs.
Side-by-Side Comparison
| Metric | New Orleans-Metairie | Vermilion Parish |
|---|---|---|
| Studio FMR | $964 | $580 |
| 1BR FMR | $1,113 | $761 |
| 2BR FMR | $1,331 | $834 |
| 3BR FMR | $1,701 | $1,100 |
| 4BR FMR | $1,996 | $1,104 |
| Median Income | $62,271 | $57,537 |
| Rent Burden | 25.6% | 17.4% |
| Actual Median Rent | $1,182 | $802 |
| Median Home Value | $248,000 | $159,700 |
| Population | 989K | 57K |
| Renter % | 39.7% | 25.7% |
| Vacancy Rate | 14.3% | 15.5% |
| Poverty Rate | 18.3% | 19.2% |
| Unemployment | - | 3.6% |
| YoY Change | - | +1.5% |
| Min Wage | $7.25/hr | $7.25/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Vermilion Parish, LA is more affordable with a 2BR FMR of $834/mo, which is $497 less than New Orleans-Metairie at $1,331/mo. However, when considering local incomes, New Orleans-Metairie has a rent burden of 25.6% vs 17.4% in Vermilion Parish.
A 2-bedroom in New Orleans-Metairie, LA costs $1,331/mo at Fair Market Rent, while in Vermilion Parish, LA it's $834/mo, a difference of $497/mo or $5,964/year.
To afford a 2BR without spending more than 30% of income on rent: New Orleans-Metairie requires $53,240/year ($26/hr). Vermilion Parish requires $33,360/year ($16/hr).