Jefferson Parish/New Orleans/70115

70115

ZIPSAFMR

Jefferson Parish, LA

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ZIP Investment Score

54Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,470	$1,300	5.0%
1 BR	$1,640	$1,600	3.5%
2 BR	$1,980	$1,980	4.2%
3 BR	$2,540	$2,390	4.1%
4 BR	$2,990	$2,880	4.5%
5 BR	$3,438	Not available	4.5%
6 BR	$3,954	Not available	4.5%
7 BR	$4,547	Not available	4.5%
8 BR	$5,230	Not available	4.5%

Purchase Price Calculator

Maximum purchase price

$232,311

Cost breakdown

+Likely effective rent$1,980

HUD FMR$1,980

Market rent$1,980

Est. payment standard (100%)Used$1,980

-Principal and interest-$1,175

Loan amount$185,849

Down payment$46,462

Rate6.50%

Term30 years

-Operating costs-$605

Property taxes-$232

Insurance-$175

Utilities$0

HOA$0

Management-$198

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$31,721(68.3% ROI)

Projected value

$250,173

Return breakdown

Property appreciation+$17,863

Loan principal paid down+$6,659

Rental cash flow+$7,200

5-year hold

+$54,401(117.1% ROI)

Projected value

$262,838

Return breakdown

Property appreciation+$30,528

Loan principal paid down+$11,874

Rental cash flow+$12,000

10-year hold

+$117,360(252.6% ROI)

Projected value

$297,377

Return breakdown

Property appreciation+$65,067

Loan principal paid down+$28,293

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.13ratio

FMR$1,470

Market$1,300

vs market+$170

FMR is above market; underwrite to market rent.

1.13

1 BR

1.02ratio

FMR$1,640

Market$1,600

vs market+$40

FMR is near market; voucher and private rents are aligned.

1.02

2 BR

1.00ratio

FMR$1,980

Market$1,980

vs market+$0

FMR is near market; voucher and private rents are aligned.

1.00

3 BR

1.06ratio

FMR$2,540

Market$2,390

vs market+$150

FMR is near market; voucher and private rents are aligned.

1.06

4 BR

1.04ratio

FMR$2,990

Market$2,880

vs market+$110

FMR is near market; voucher and private rents are aligned.

1.04

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 70115 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 70115 (New Orleans, LA) is $1,980 a month. That is up 15.1% from $1,720 in FY 2026. New Orleans is in the New Orleans-Metairie, LA HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,480. Among 34 ZIP codes in Jefferson Parish, 70115 has the highest two-bedroom rent (county range $1,270–$1,980). The median county two-bedroom FMR in Louisiana is $995, so ZIP 70115 is 99% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 70115
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,270	$1,470	+15.7%	$1,323–$1,617
1BR	$1,430	$1,640	+14.7%	$1,476–$1,804
2BR	$1,720	$1,980	+15.1%	$1,782–$2,178
3BR	$2,190	$2,540	+16.0%	$2,286–$2,794
4BR	$2,600	$2,990	+15.0%	$2,691–$3,289

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 70115
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,470	$1,640	$1,980	$2,540	$2,990
FY 2026	$1,270	$1,430	$1,720	$2,190	$2,600
FY 2025	$1,370	$1,580	$1,890	$2,420	$2,840
FY 2024	$1,270	$1,480	$1,750	$2,250	$2,620
FY 2023	$1,110	$1,310	$1,550	$2,000	$2,320

Two-bedroom rent in nearby Jefferson Parish ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 70115
70063	$1,430	−27.8%
70064	$1,430	−27.8%
70065	$1,350	−31.8%
70067	$1,640	−17.2%
70072	$1,440	−27.3%
70073	$1,430	−27.8%
70094	$1,460	−26.3%
70096	$1,430	−27.8%
70115Current	$1,980	—
70118	$1,660	−16.2%
70121	$1,360	−31.3%
70123	$1,630	−17.7%

Questions about ZIP 70115 rents

How much will Section 8 pay for a two-bedroom in ZIP 70115?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,480, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,332 to $1,628 a month; under the ZIP-level Small Area FMR of $1,980 it would be $1,782 to $2,178. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 70115 in?

ZIP 70115 is in the New Orleans-Metairie, LA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,480.

How much did fair market rent change in ZIP 70115 for FY 2027?

The two-bedroom FMR rose 15.1%, from $1,720 in FY 2026 to $1,980 in FY 2027. Since FY 2023 it has risen 27.7%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent New Orleans, LA fair market rent LA statewide rents What is SAFMR?Data sources