Skip to main content
Loading page
Orleans Parish/New Orleans/70122

70122

ZIPSAFMR
Orleans Parish, LA
Zillow

ZIP Investment Score

137High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,180$1,190
1 BR$1,320$1,420
2 BR$1,590$1,640
3 BR$2,040$2,050
4 BR$2,400$2,490
5 BR$2,760Not available
6 BR$3,174Not available
7 BR$3,650Not available
8 BR$4,198Not available

Purchase Price Calculator

Maximum purchase price
$181,787

Cost breakdown

+Likely effective rent$1,640
HUD FMR$1,590
Market rent$1,660
Est. payment standard (103%)Used$1,640
-Principal and interest-$919
Loan amount$145,429
Down payment$36,357
Rate6.50%
Term30 years
-Operating costs-$521
Property taxes-$182
Insurance-$175
Utilities$0
HOA$0
Management-$164
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,388(72.6% ROI)
Projected value
$195,765
Return breakdown
Property appreciation+$13,978
Loan principal paid down+$5,210
Rental cash flow+$7,200
5-year hold
+$45,180(124.3% ROI)
Projected value
$205,675
Return breakdown
Property appreciation+$23,888
Loan principal paid down+$9,292
Rental cash flow+$12,000
10-year hold
+$97,056(266.9% ROI)
Projected value
$232,703
Return breakdown
Property appreciation+$50,916
Loan principal paid down+$22,140
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.99
1 BR
0.89
2 BR
0.96
3 BR
1.00
4 BR
0.94
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 70122 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 70122 (New Orleans, LA) is $1,590 a month. That is up 15.2% from $1,380 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, 70122 has the 7th-highest two-bedroom rent (county range $1,210–$2,220). The median county two-bedroom FMR in Louisiana is $995, so ZIP 70122 is 60% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 70122
BedroomsFY 2027Change90–110% range
Studio$1,180+15.7%$1,062–$1,298
1BR$1,320+14.8%$1,188–$1,452
2BR$1,590+15.2%$1,431–$1,749
3BR$2,040+16.6%$1,836–$2,244
4BR$2,400+14.8%$2,160–$2,640

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 70122
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,180$1,320$1,590$2,040$2,400
FY 2026$1,020$1,150$1,380$1,750$2,090
FY 2025$1,080$1,250$1,490$1,900$2,240
FY 2024$980$1,140$1,350$1,730$2,020
FY 2023$840$990$1,170$1,510$1,750

Two-bedroom rent in nearby Orleans Parish ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 70122
70115$1,980+24.5%
70116$1,540−3.1%
70117$1,500−5.7%
70118$1,660+4.4%
70119$1,750+10.1%
70122Current$1,590—
70124$2,180+37.1%
70125$1,620+1.9%
70126$1,400−11.9%
70127$1,360−14.5%
70128$1,500−5.7%
70129$1,450−8.8%

Questions about ZIP 70122 rents

How much will Section 8 pay for a two-bedroom in ZIP 70122?

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 $1,590 it would be $1,431 to $1,749. 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 70122 in?

ZIP 70122 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 70122 for FY 2027?

The two-bedroom FMR rose 15.2%, from $1,380 in FY 2026 to $1,590 in FY 2027. Since FY 2023 it has risen 35.9%.

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 rentNew Orleans, LA fair market rentLA statewide rentsWhat is SAFMR?Data sources