Location: Slidell-Mandeville-Covington, LA | Metro: Slidell-Mandeville-Covington, LA MSA
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 | $950 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,560 | $283,415 | 0.55% | F |
| 4BR | $1,800 | $377,775 | 0.48% | F |
U.S. Census Bureau data (2024)
1270 is the Fair Market Rent (FMR) for ZIP 70420 as of fiscal year 2024, indicating the maximum amount a Section 8 tenant can be charged for rent. 1171 is the average market rent reported by the Census Bureau's American Community Survey, suggesting that properties in this area are already priced below the FMR threshold, making them attractive for both Section 8 tenants and private renters alike. 275,766 represents the median home value in the area, which is significantly lower than many comparable markets, offering an opportunity for investors to acquire properties at a reasonable cost. 15.4% is the proportion of residents who are renters, showing a moderate demand for rental housing in ZIP 70420. 78,171 is the median income level, which is relatively low, pointing towards a significant portion of the population relying on government assistance such as Section 8 vouchers to afford housing. N/A indicates that there is no specific data available regarding the days on market (DOM) for properties in this ZIP code, though it does not necessarily imply a slow market. 0.2% is the share of homes that have been listed with price cuts, suggesting that most properties are being sold at their original asking price, a positive sign for real estate investors looking for stable returns.
The disparity between the 1270 FMR and the 1171 average market rent presents a compelling opportunity for landlords and small-portfolio investors to enter the ZIP 70420 market. Given the 275,766 median home value, investors can find properties at a lower cost compared to other regions, allowing for higher profit margins when renting out at or near the FMR. The 15.4% renter share highlights a steady demand for rental units, while the 78,171 median income underscores the need for affordable housing options, aligning well with Section 8 programs. With only 0.2% of listings experiencing price cuts, the market in ZIP 70420 is demonstrating stability and resilience, which bodes well for long-term investments.
Based on these figures, ZIP 70420 is a favorable location for Section 8 investments, offering a blend of affordability and demand.
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.