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 | $1,080 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,460 | $143,341 | 1.02% | B |
| 3BR | $1,870 | $184,300 | 1.01% | B |
| 4BR | $2,200 | $243,307 | 0.9% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 70094, Westwego, Louisiana, for fiscal year 2024 is set at $1340. This figure represents the maximum amount the federal government will pay landlords who participate in the Section 8 Housing Choice Voucher program for a given unit. It's important to note that this is not the rent you can charge tenants; it's the reimbursement limit from the government.
In comparison, the local market rent for a similar unit in Westwego is estimated at $1572, according to the Zillow Observed Rent Index (ZORI). This indicates that the FMR is slightly below the average market rent, suggesting that landlords might need to consider offering additional amenities or maintaining higher standards of property upkeep to attract tenants.
The demand for rental properties in Westwego is strong, with 35.8% of residents being renters. This high percentage of renters in the area translates into a robust market for rental housing, making it an attractive location for new landlords and small-portfolio investors.
If you're looking to acquire a property in Westwego for your first Section 8 rental, the median home value stands at $179,502. This gives you a benchmark for what you might expect to pay for a typical home in the area. Keep in mind that the actual purchase price can vary based on the condition of the property, its size, and other factors.
Before you decide to enter the Section 8 market in Westwego, ensure that the property meets all the necessary requirements for the program. Specifically, you should verify that the unit passes a Housing Quality Standards (HQS) inspection. This inspection ensures that the property is safe, decent, and sanitary, which is mandatory for participation in the Section 8 program.
In summary, while the FMR of $1340 may be lower than the market rent of $1572, the significant renter population in Westwego presents a viable opportunity for investment. With a median home value of $179,502, acquiring a property for your first Section 8 rental is feasible, but make sure the unit complies with HQS standards before proceeding.
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.