Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
New Orleans mortgage calculator
A median-priced New Orleans, LA home at 6.75% over 30 years, with Louisiana property tax of 0.56% and $6,000 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$2,122 a month, all in
Principal and interest are $1,410; escrow and PMI add the rest. Over the full term the loan costs $290,152 in interest. Discounted at 5%, buying here has a net present value of $79,884 ($258,649 in today’s dollars).
Within Louisiana, New Orleans is the most expensive of the 4 Louisiana markets covered here. Prices here run 1.77x those in Shreveport, the cheapest market listed, so a statewide average badly understates what a purchase costs on this side of the state.
At $241,500 to buy and $1,495 a month to rent, the price-to-rent ratio is 13.5 — low. Ownership tends to pull ahead quickly at that level, and the binding question is transaction costs rather than the monthly comparison.
New Orleans carries a premium over the rest of Louisiana: a median home here runs $241,500, about 15% above the state median of $210,000. The deposit moves with it, so the same 20% down is $48,300 rather than $42,000.
Monthly cost in New Orleans vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $241,500 |
|---|---|
| Down payment (10%) | $24,150 |
| Loan amount | $217,350 |
| Principal & interest | $1,410/mo |
| Property tax (0.56%) | $113/mo |
| Homeowners insurance | $500/mo |
| PMI while above 80% LTV | $100/mo |
| Total monthly payment | $2,122/mo |
| Comparable rent | $1,495/mo |
What a rate move does to the New Orleans payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $1,234/mo |
| 6% | $1,303/mo |
| 6.5% | $1,374/mo |
| 7% | $1,446/mo |
| 7.5% | $1,520/mo |
| 8% | $1,595/mo |
Rent or buy in New Orleans?
Against $1,495 a month in rent, over 7 years renting leaves you about $30,771 better off — $25,887 once 2.5% inflation is stripped out. See the Louisiana rent-vs-buy page.
Where these numbers come from
Louisiana medians come from editorial and are refreshed weekly. The New Orleans figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.