Which New Orleans Neighborhood Has the Best Deal on a Double Right Now?
Comparing Mid-City, Carrollton, and Gentilly doubles using May 2026 MLS data
Every month I pull 30 days of small multifamily data across New Orleans. Here’s what May is showing.
New Orleans: Doubles
101 homes under contract against 56 closed is the number worth sitting with. Buyers are active and disciplined. The gap between median active price ($327k) and median closed price ($349k) suggests the homes actually trading are the better-positioned ones. Overpriced inventory is still sitting.
New Orleans: Triplexes
With the 3 closed units we have a small sample size. The bigger story is days on market for the 63 active units.This is a buyer’s market and investors are being picky.
New Orleans: Fourplexes
Again small sample size. However, the spread between median active ($515k) and under contract ($260k) tells you exactly where buyers are drawing the line.
Neighborhood Spotlight: Doubles in Mid-City, Carrollton, and Gentilly
Mid-City and Gentilly are closing fast, 12 and 10 days median DOM respectively, but at significant discounts to asking. In both neighborhoods the gap between active and closed median is $80k–$110k, which tells you sellers listing at market-rate singles pricing are getting corrected at the negotiating table.
Carrollton’s market appears to continue to be dragged by the Tulane sophomore residency requirement.
Gentilly at 4.7 months is the tightest of the three, technically approaching seller’s market territory for doubles, unusual relative to the citywide picture.
What it means
Buyers: 8.5 months citywide gives you room, but it’s not uniform. Gentilly doubles are moving fast at low prices, best entry point of the three. Mid-City offers faster closings but expects to negotiate hard. Carrollton is where patient buyers have the most leverage right now.
Sellers: The active-to-closed price gap in every neighborhood tells the same story, the market is correcting overpriced listings, not rewarding them. Condition and realistic pricing are the only path to a closing.
Investors: Gentilly’s 4.7 MOI and sub-$250k median close price is the most interesting number in this report. Underwrite conservatively on vacancy given broader rental softness across the parish, but the acquisition side is more favorable here than anywhere else in the city right now.
Is it time to price out your multifamily home?