Location: New Orleans-Metairie, LA | Metro: New Orleans-Metairie, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
The rent math in ZIP code 70044 does not provide a clear comparison due to the lack of available market rent data. The Fair Market Rent (FMR) set by HUD for this area for fiscal year 2024 is $1250. This figure represents the benchmark for determining eligibility for Section 8 housing assistance but cannot be directly compared to actual market rents without specific data points.
Regarding acquisition affordability, there is insufficient information on the median home value, days on market (DOM), and the percentage of homes that have had their prices cut. These metrics are crucial for understanding how easy it is to purchase properties in the area and at what cost. Without these specifics, landlords and small-portfolio investors cannot make informed decisions about property acquisition.
Tenant demand in ZIP 70044 is also unclear due to the absence of population and renter share percentages. To assess whether there is a sufficient number of potential tenants who would benefit from and utilize Section 8 vouchers, we need to know the total population and the proportion of renters within that population. The lack of such data hinders the ability to gauge the viability of renting out properties under the Section 8 program.
In summary, while the HUD Fair Market Rent for ZIP 70044 is established at $1250 for fiscal year 2024, the necessary data to fully analyze the rent math, acquisition affordability, and tenant demand is missing. Landlords and small-portfolio investors must seek additional local market insights to make informed decisions regarding Section 8 investments in this area. The incomplete dataset precludes a definitive assessment of the area's suitability for Section 8 properties.
Data Sources: FMR data from HUD (2027).
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.