Metairie real estate is the premier residential suburb of New Orleans, located in Jefferson Parish just west of the Orleans Parish line and offering buyers New Orleans métro access without the flood risk and school system challenges of the city proper. Metairie is largely built-out and elevated relative to much of greater New Orleans, resulting in lower average flood insurance premiums that make monthly housing costs more predictable. Median home prices run from $280,000 to $480,000, with Mid-Metairie and Old Metairie commanding premium prices for their walkability, mature landscaping, and access to top private schools.
Financing in Metairie, Louisiana
Flood insurance remains a key consideration even in Metairie, as elevation varies considerably by block — buyers should always verify flood zone designations and request elevation certificates. FHA-certified condominiums and standard single-family financing are both widely available in Metairie. Conventional loans are the dominant product, with many buyers putting 20% down to avoid PMI on purchases above $400,000. Jefferson Parish property taxes average approximately 0.5% to 0.6% of assessed value annually. Louisiana Housing Corporation programs are available for qualifying first-time buyers who meet income limits.
Title insurance at closing is standard in Metairie and costs $1,100 to $2,000 on median-priced transactions. Escrow accounts for taxes, homeowner's insurance, and flood insurance are required by lenders on flood-zone properties. HOA fees apply to some of Metairie's condominium and townhome developments, typically running $200 to $500 monthly. Average days on market on the Jefferson Parish MLS runs 25 to 45 days for well-priced Metairie listings, with Old Metairie and lakefront properties attracting buyers quickly in active spring and fall markets.
Long-term rental investors in Metairie find cap rates of 5.5% to 8% on single-family properties, with the suburban New Orleans tenant base including professionals, healthcare workers, and families who prefer Jefferson Parish schools. The combination of lower flood exposure than Orleans Parish and métro New Orleans access makes Metairie one of the most practical real estate investments in the Greater New Orleans area.
