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 market analysis for Section 8 investors in ZIP code 70189 reveals that the HUD Fair Market Rent (FMR) for the area is set at $1,370 for fiscal year 2026. This figure represents the maximum amount that voucher holders can pay towards their rent, based on the metropolitan area's average rental costs.
Unfortunately, the current market rent data for ZIP 70189 is unavailable, making it challenging to directly compare the HUD FMR against local rental rates. However, given the historical context of similar areas, it is reasonable to assume that voucher tenants will likely cashflow at the FMR level, meaning they can afford the rent without additional financial strain.
The median home value in the area is also not available, which hinders the ability to calculate a precise rent-to-price ratio. Nevertheless, this ratio typically provides insight into the relative affordability of renting versus buying, and in its absence, we must rely on other indicators to assess the investment climate.
With the lack of specific data regarding the days on market (DOM) and the percentage of homes requiring price reductions, it's difficult to make a direct correlation between these factors and the rent-versatility dynamics. However, in general, a lower DOM and fewer instances of price cuts indicate a strong buyer's market, which can influence the attractiveness of rental properties.
In conclusion, while detailed local market rent data and median home values are missing, the strength of the Section 8 program in providing stable income suggests that cashflow remains the strongest investor angle in ZIP 70189. The predictability of government-backed rents offers a reliable source of income, even in the face of incomplete local market data.
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.