New Orleans, LA Foreclosed Homes & Properties

Foreclosure Homes for Sale in New Orleans, LA: Everything You Need to Know

The identity of New Orleans is made up of various nations and people, making this city unique in America, and perhaps worldwide. This poly-cultural city has a culture and heritage formed from African Americans, French, Spanish, Congolese, Haitian, Native American, Latino, Anglo-Americans, and Creole, among many others. 

This region attracts over 17 million tourists each year due to its abundant festivals, the most popular being Mardi-Gras. The mystique formed around the Voodoo culture sparks the curiosity of many. 

Gumbo and crawfish boils are traditional dishes. Creole and Cajun cuisine is the preferred flavor of this city. Visit Briquette, Café Du Monde, and Willa Jean for an authentic dining experience. Or for a different scene and experience, you can spend the evening aboard the Steamboat Natchez Jazz Dinner Cruise on the Mississippi River.

Job Opportunities in New Orleans 

There are four major sectors in New Orleans: oil/gas, tourism, port & shipbuilding, and aerospace manufacturing. Attractions such as the French Quarter, the annual Mardi Gras Festival and river-boat gambling bring millions of tourists each year. Tourism has become the driving force for this city's economic base accumulating $4.9 billion in annual revenue. 

The hospitality sector provides over 66,000 jobs. Entergy Corp. and The Shaw Group Inc. are two Louisiana based Fortune 500 companies that have headquarters in New Orleans. 

The top three non-government employers in the city are the Ochsner Health System, Northrop Group, and the LSU Health Science Center in New Orleans. The average annual salary is $59,000 or $17.54 an hour.  

New Orleans Real Estate: Cost of Living  

It’s beneficial to create a monthly budget for all living expenses when deciding to move to a new city. Overall, the cost of living in New Orleans is 2% lower than the national average. The most common monthly costs that you need to take into consideration when moving to New Orleans, LA, are outlined below.

• Median Home Cost: $351,858

• Rent: $1,102

• Electricty: $144.69

• Phone Bill: $154.24

• Gas: $2.74

• Food/Grocery: 3% lower than the national average

• Healthcare: 10% lower than the national average

• Combined Sales Tax: 9.45%

Shopping in the City

When it comes to shopping in New Orleans, Magazine Street is where it's at. This six-mile stretch of specialty boutiques, art galleries, one-of-a-kind pubs, and restaurants are all located inside and around magnificent styles of historic architecture. It certainly makes for a lovely casual stroll. Minutes away, you will find the French Quarter, one of the most historic neighborhoods in NOLA. Royal Street is another popular shopping area located just a few streets away from the bustling and famous Bourbon Street. Here you’ll find grand antique shops and beautiful art galleries. 

The top three local grocery stores are Central Grocery and Deli, Rouses Market, and Quarter Grocery & Deli. Supermarkets such as Costco, Winn Dixie, and Sam's Club can be found throughout the town.