Orleans Parish/New Orleans/70119

70119

ZIPSAFMR

Orleans Parish, LA

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ZIP Investment Score

109Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,300	$1,160	6.0%
1 BR	$1,450	$1,430	4.5%
2 BR	$1,750	$1,590	5.3%
3 BR	$2,250	$2,320	5.2%
4 BR	$2,640	$2,900	5.5%
5 BR	$3,036	Not available	5.5%
6 BR	$3,491	Not available	5.5%
7 BR	$4,015	Not available	5.5%
8 BR	$4,617	Not available	5.5%

Purchase Price Calculator

Maximum purchase price

$174,357

Cost breakdown

+Likely effective rent$1,590

HUD FMR$1,750

Market rentUsed$1,590

Est. payment standard (94%)$1,650

-Principal and interest-$882

Loan amount$139,485

Down payment$34,871

Rate6.50%

Term30 years

-Operating costs-$508

Property taxes-$174

Insurance-$175

Utilities$0

HOA$0

Management-$159

=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

+$25,604(73.4% ROI)

Projected value

$187,763

Return breakdown

Property appreciation+$13,406

Loan principal paid down+$4,997

Rental cash flow+$7,200

5-year hold

+$43,824(125.7% ROI)

Projected value

$197,269

Return breakdown

Property appreciation+$22,912

Loan principal paid down+$8,912

Rental cash flow+$12,000

10-year hold

+$94,070(269.8% ROI)

Projected value

$223,192

Return breakdown

Property appreciation+$48,835

Loan principal paid down+$21,235

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.12ratio

FMR$1,300

Market$1,160

vs market+$140

FMR is above market; underwrite to market rent.

1.12

1 BR

1.01ratio

FMR$1,450

Market$1,430

vs market+$20

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

1.01

2 BR

1.10ratio

FMR$1,750

Market$1,590

vs market+$160

FMR is above market; underwrite to market rent.

1.10

3 BR

0.96ratio

FMR$2,250

Market$2,350

vs market-$100

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

0.96

4 BR

0.85ratio

FMR$2,640

Market$3,100

vs market-$460

FMR is below market; voucher rent may lag private rents.

0.85

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 70119 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 70119 (New Orleans, LA) is $1,750 a month. That is up 15.9% from $1,510 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 45 ZIP codes in Orleans Parish, 70119 has the 4th-highest two-bedroom rent (county range $1,210–$2,220). The median county two-bedroom FMR in Louisiana is $995, so ZIP 70119 is 76% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 70119
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,110	$1,300	+17.1%	$1,170–$1,430
1BR	$1,260	$1,450	+15.1%	$1,305–$1,595
2BR	$1,510	$1,750	+15.9%	$1,575–$1,925
3BR	$1,920	$2,250	+17.2%	$2,025–$2,475
4BR	$2,280	$2,640	+15.8%	$2,376–$2,904

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 70119
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,300	$1,450	$1,750	$2,250	$2,640
FY 2026	$1,110	$1,260	$1,510	$1,920	$2,280
FY 2025	$1,200	$1,380	$1,650	$2,110	$2,480
FY 2024	$1,090	$1,270	$1,500	$1,930	$2,250
FY 2023	$930	$1,090	$1,290	$1,660	$1,930

Two-bedroom rent in nearby Orleans Parish ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 70119
70112	$1,430	−18.3%
70113	$1,230	−29.7%
70114	$1,430	−18.3%
70115	$1,980	+13.1%
70116	$1,540	−12.0%
70117	$1,500	−14.3%
70118	$1,660	−5.1%
70119Current	$1,750	—
70122	$1,590	−9.1%
70124	$2,180	+24.6%
70125	$1,620	−7.4%
70126	$1,400	−20.0%

Questions about ZIP 70119 rents

How much will Section 8 pay for a two-bedroom in ZIP 70119?

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 $1,750 it would be $1,575 to $1,925. 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 70119 in?

ZIP 70119 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 70119 for FY 2027?

The two-bedroom FMR rose 15.9%, from $1,510 in FY 2026 to $1,750 in FY 2027. Since FY 2023 it has risen 35.7%.

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