Location: New Orleans-Metairie, LA | Metro: New Orleans-Metairie, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The ZIP code 70076 is not suitable for targeting Section 8 tenants based on the available data. The population count of 100 indicates that this area is extremely small, which makes it challenging to draw meaningful conclusions about rental demand or housing voucher usage. With 0.0% of the population being renters, this suggests that the majority of residents in this area are homeowners, making it a homeowner-dominated region.
The median household income is listed as N/A, which implies there's insufficient data to determine the average income level of the residents. Without a reliable median income figure, it's impossible to accurately assess how much of the local income would typically go towards rent. However, given the low number of renters, it's reasonable to infer that the demand for rental properties, especially those utilizing Section 8 vouchers, is likely minimal.
Comparing the local market rent to the Fair Market Rent (FMR) of $1270 for FY 2024, we find no specific local rent figures provided. This lack of data makes it difficult to calculate the percentage of local income spent on rent. Nevertheless, the FMR can serve as a benchmark for rental prices in the area. If we assume that the market rent aligns closely with the FMR, then landlords in 70076 should expect to set their rents around this amount.
In terms of tenant profiles, landlords should anticipate a very limited pool of potential Section 8 tenants due to the extremely low percentage of renters in the area. Any tenants looking to use vouchers would have to be prepared to pay the difference between the voucher amount and the market rent if the latter exceeds the FMR. Given the homeowner-dominated nature of the ZIP, landlords might benefit more from focusing on non-voucher renting strategies or considering other areas with higher renter populations for better Section 8 tenant opportunities.
Data Sources: FMR data from HUD (2027). 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.