new orleans la

  • Median home price : $163,000
  • Forecast gain through Sept. 2014: 8.7%

New Orleans has been rebuilding since Hurricane Katrina devastated the area.

As people have returned, buyer demand has perked up — and so have home prices.

But there’s still plenty of room for this housing market to grow. The median home price in the metro area was only $163,000 during the three months ended September, more than 20% below the national median.

CoreLogic is predicting home prices will increase by 8.6% over the next 12 months, followed by a better-than-average 5.4% increase in the year after that.