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 | $990 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $2,020 |
| 5 Bedrooms | $2,343 |
| 6 Bedrooms | $2,624 |
| 7 Bedrooms | $2,834 |
| 8 Bedrooms | $2,976 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,340 | $173,635 | 0.77% | D |
| 3BR | $1,720 | $230,632 | 0.75% | D |
| 4BR | $2,020 | $280,821 | 0.72% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP 70043, located in Chalmette, LA, within the New Orleans-Metairie, LA HUD Metro FMR Area, reveals several key points for landlords and small-portfolio investors. First, the rent math does not align favorably with the Federal Market Rent (FMR) set at $1190 for the fiscal year 2024, compared to the actual market rent, known as the Zillow Observed Rental Index (ZORI), which stands at $1,428. This discrepancy means that properties relying on FMR subsidies will generate less income than those rented at market rates.
Second, the acquisition of homes in this area appears to be relatively affordable. The median home value is $207,610, indicating that property prices are within a manageable range for potential investors. However, the lack of data on days on market (DOM) and the low price-cut share of 0.2% suggest that the market may be stable but lacks recent transaction history, making it harder to assess current liquidity.
Third, there is a notable tenant demand in ZIP 70043. With a total population of 22,638, and 39.0% of residents being renters, there is a significant pool of potential tenants. This high renter share implies a robust market for rental properties, supporting the viability of rental investments in this area.
In conclusion, while the rent math does not work in favor of FMR-reliant properties due to the lower subsidy rate compared to the market rent, the median home values indicate affordability for acquisitions. The substantial renter share among the local population suggests strong tenant demand, making ZIP 70043 a promising area for rental investments. However, the absence of recent transaction data limits the ability to gauge current market dynamics fully.
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.