This district is a favorite for young professionals and students, and many condos are purchased to rent. Now is still a good time to buy for investment, since although the prices have been reasonably stable over the past year, many units still need upgrading and a little bit of work could bring a good return. What they call sweat equity is a good way of making money on property when prices are stable. However, it is believed that these will now rise rapidly, and prices in some eastern seaboard cities of the USA are increasing by over 12% a year.

One good selling point is that you don't need a car much in New Orleans, as already mentioned, and parking is not so much of an issue. For that reason you will likely have to find some form of parking with your warehouse district home since you will be leaving it behind so much. With rising gas prices this isn't a bad thing!

The condos here are not large, and if it is living space you want then perhaps you should have a look at what else New Orleans has to offer. In the center of the city you will be looking at around 300K minimum for a condo, but if you go 15 minutes away to uptown New Orleans, condos can be had for 90K upwards. You don't get much for 90K, but if you are single and out most of the time then it’s a good buy. The average two bedroom uptown condo will cost around $200+.