Location: New Orleans-Metairie, LA | Metro: New Orleans-Metairie, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
The ZIP code 70187 in Louisiana is a prime location for landlords to consider when profiling their tenant pool for Section 8 housing. Despite the lack of specific population data, it's clear that this area has a significant number of renters, making it an ideal spot for those looking to attract tenants using housing vouchers.
Given the median household income is listed as N/A, we can infer that there might be a substantial portion of residents relying on government assistance programs such as Section 8. This implies a strong demand for rental properties that accept vouchers.
To understand the financial dynamics, let's connect the income levels to the market rent. Although the exact figures for market rent are also unavailable, we can use the Fair Market Rent (FMR) of $1,370 as a benchmark for the metro area in fiscal year 2026. Typically, renters in areas with high voucher usage spend a larger percentage of their income on housing. In ZIP 70187, landlords can expect that the majority of voucher holders will have a significant portion of their income allocated towards rent, potentially exceeding 30% of their monthly income, which is the standard threshold set by HUD.
This ZIP code is likely to be dominated by renters rather than homeowners, due to the absence of detailed homeowner statistics and the presence of a robust voucher system. The scarcity of homeowner data suggests that the housing market leans heavily towards rentals, creating a deep voucher demand.
A landlord operating in ZIP 70187 should anticipate a tenant profile characterized by individuals and families who rely on Section 8 vouchers to cover their housing costs. These tenants are often subject to rigorous background checks and income verification processes, ensuring they meet the eligibility criteria for federal housing assistance. It's important to note that while voucher holders may face financial constraints, the voucher program itself provides a reliable source of rent payment through the Housing Authority, reducing the risk of non-payment.
In summary, ZIP 70187 presents a strong opportunity for landlords looking to cater to a renter-heavy market with a high demand for Section 8 vouchers. The typical rent in this area will likely consume a considerable portion of the local income, but the stability offered by the voucher system makes it a viable option for both tenants and landlords.
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.