Location: New Orleans-Metairie, LA | Metro: Houma-Bayou Cane-Thibodaux, LA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,490 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $3,020 |
| 5 Bedrooms | $3,503 |
| 6 Bedrooms | $3,923 |
| 7 Bedrooms | $4,237 |
| 8 Bedrooms | $4,449 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,580 | $258,120 | 1% | C |
U.S. Census Bureau data (2024)
ZIP 70030, located within the New Orleans-Metairie, LA HUD Metro FMR Area, serves as a cash-flow anchor in a Section 8 portfolio strategy. The Family Monthly Rent (FMR) for the fiscal year 2024 is set at $1730, which exceeds the current market rent of $1672. This positive spread ensures that properties in this ZIP code will generate steady and reliable rental income for landlords and small-portfolio investors.
The median home value in ZIP 70030 stands at $226,531. Given the higher FMR compared to the market rent, landlords can expect consistent cash flow from tenants who qualify for Section 8 vouchers. The program provides a guaranteed income stream, reducing the risk associated with vacancy and delinquency. Additionally, the subsidy amount covers the gap between the market rate and the FMR, making it an attractive option for maintaining financial stability in a portfolio.
While the area does not present significant opportunities for appreciation, with no notable percentage of price-cut shares or days on market (DOM), the focus should be on the cash flow rather than capital gains. The 7.7% renter share indicates a smaller proportion of residents renting, but the median income of $118,867 suggests that there is a stable economic base supporting the housing market. This further solidifies the potential for ZIP 70030 to serve as a dependable component of a Section 8 investment strategy.
Incorporating ZIP 70030 into a Section 8 portfolio will provide a foundation of predictable cash flow, crucial for managing overall investment performance and covering expenses such as mortgage payments, maintenance, and property taxes. Landlords should prioritize properties in this ZIP code that align with the FMR guidelines to maximize their returns while minimizing risks.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.