Location: New Orleans-Metairie, LA | Metro: New Orleans-Metairie, LA HUD Metro FMR Area
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 | $880 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,540 | $266,968 | 0.58% | F |
U.S. Census Bureau data (2024)
To integrate ZIP 70032 into a Section 8 portfolio strategy, consider it primarily as a cash-flow anchor. The Fair Market Rent (FMR) for the New Orleans-Metairie, LA HUD Metro FMR Area for fiscal year 2024 is set at $1170, which is notably higher than the market rent of $981. This creates a positive spread of $189 per unit, ensuring that properties in this ZIP code will be financially viable even if market conditions fluctuate.
The median home value in ZIP 70032 stands at $217,271, making it a relatively affordable area for property acquisition. However, the primary focus should be on leveraging the higher FMR rates to secure steady cash flow. Landlords can confidently rent out their units at the subsidized rate without fear of underperforming against market trends.
ZIP 70032 does not present significant opportunities as an appreciation play due to its low price-cut share of 0.2%, indicating that the market is stable but not rapidly growing. The days on market (DOM) data being N/A suggests either limited turnover or a lack of recent sales activity, which further supports the idea that this area is not experiencing rapid appreciation.
While the ZIP code could serve as a diversifier with a 31.3% renter share and a median income of $56,813, the most compelling argument for its inclusion in a Section 8 portfolio is its role as a cash-flow anchor. The substantial difference between the HUD-set FMR and the local market rent ensures that landlords will benefit from a reliable income stream, mitigating risks associated with volatile market conditions.
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.