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 | $1,030 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $165,600 | 0.79% | D |
| 3BR | $1,680 | $225,778 | 0.74% | D |
| 4BR | $1,920 | $306,635 | 0.63% | D |
| 5BR | $2,227 | $408,060 | 0.55% | F |
U.S. Census Bureau data (2024)
In ZIP code 70461 of Slidell, Louisiana, there are several risks to consider when investing in properties through the Section 8 program. First, tenant turnover could be an issue due to the disparity between the market rent of $1,639 and the Fair Market Rent (FMR) of $1320 for FY 2024. Landlords may face challenges retaining tenants who are accustomed to subsidized rates.
Vacancy exposure is another concern, given that the average Days on Market (DOM) is 72 days. This extended period could lead to significant financial losses if units remain unoccupied for long periods, especially considering the typical home value of $265,313 and the median income of $89,033. The lower median income suggests that many potential tenants might rely heavily on vouchers, which can sometimes delay the leasing process.
The deferred-maintenance exposure is also noteworthy. With a typical home value of $265,313, landlords must be prepared to invest in maintaining the property's condition to meet Section 8 standards. This includes addressing any necessary repairs or upgrades that might otherwise be deferred in a non-subsidized rental scenario.
However, these risks are balanced by the high renter share of 23.1%. High renter density generally indicates a higher demand for rental properties, including those that accept Section 8 vouchers. This increased demand can help mitigate the risks associated with vacancy and turnover, as there is a larger pool of potential tenants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.