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 | $1,000 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,730 | $180,592 | 0.96% | C |
U.S. Census Bureau data (2024)
The ZIP code 70085 stands out in its county with a population of 4,736 residents, where 26.0% of the households rent their homes. The median income here is $55,167, and the median home value is $166,141, indicating a middle-class community that is relatively stable in terms of housing values and economic status.
In the realm of Section 8 vouchers, the Financial Market Rent (FMR) for ZIP 70085 has been set at $1,300 for fiscal year 2024. This is notably higher than the market rate of $1,043, as reported by the Census Bureau's American Community Survey (ACS). The discrepancy between these two figures suggests that landlords who accept Section 8 vouchers in this area can expect to receive rental payments that exceed the local market average, making it a potentially lucrative option despite the bureaucratic requirements associated with the program.
The data signature for ZIP 70085 reads as "stable." With a consistent median home value and a moderate percentage of renters, there is little indication of significant changes on the horizon. The higher FMR compared to the market rate further supports this stability, as it ensures that landlords will be compensated at a rate above the typical market price, providing a reliable source of income for those willing to participate in the Section 8 program.
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.