Housing costs in the New Orleans area have gotten to a point where most people are being priced out of the market.
Real Estate Analyst Arthur Sterbcow has the numbers.
"The average rent is $1,655 a month," he explained. "The average income to afford that rent is $66,219."
He told WWL's Tommy Tucker that most people locally don't make that kind of money.
In fact, the average Louisiana household income is just over $60,000 a year. That's six grand less than what it takes to afford the average rent.
In the city of New Orleans, the average household income is just over $55,000.
The average income for an individual in New Orleans is barely $32,000 per year.
"The real big problem has been insurance rates," Stercow explained.
With the highest in the nation cost of property insurance, owners have to pass the expense on to renters.