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St. Tammany Parish/Covington/70435

70435

ZIPSAFMR
St. Tammany Parish, LA
Zillow

ZIP Investment Score

78Below average

095130300
BRFMR
Eff. Rent
0 BR$1,020$1,120
1 BR$1,110$1,220
2 BR$1,290$1,420
3 BR$1,660$1,730
4 BR$1,900$2,090
5 BR$2,185Not available
6 BR$2,513Not available
7 BR$2,890Not available
8 BR$3,323Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMR$1,290
Market rent$1,610
Est. payment standard (110%)Used$1,420
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.63
1 BR
0.74
2 BR
0.80
3 BR
0.94
4 BR
0.85
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 70435 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 70435 (Covington, LA) is $1,290 a month. That is down 3.7% from $1,340 in FY 2026. Covington is in the Slidell-Mandeville-Covington, LA MSA. 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 $1,354. Among 22 ZIP codes in St. Tammany Parish, 70435 is tied for the 12th-highest two-bedroom rent (county range $1,210–$2,030). The median county two-bedroom FMR in Louisiana is $995, so ZIP 70435 is 30% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 70435
BedroomsFY 2027Change90–110% range
Studio$1,020+5.2%$918–$1,122
1BR$1,110−0.9%$999–$1,221
2BR$1,290−3.7%$1,161–$1,419
3BR$1,660−2.9%$1,494–$1,826
4BR$1,900−5.0%$1,710–$2,090

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 70435
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,020$1,110$1,290$1,660$1,900
FY 2026$970$1,120$1,340$1,710$2,000
FY 2025$1,070$1,240$1,480$1,890$2,220
FY 2024$1,010$1,180$1,400$1,800$2,090
FY 2023$870$1,030$1,210$1,560$1,810

Two-bedroom rent in nearby St. Tammany Parish ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 70435
70420$1,210−6.2%
70427$1,210−6.2%
70431$1,440+11.6%
70433$1,440+11.6%
70434$1,390+7.8%
70435Current$1,290—
70437$1,210−6.2%
70438$1,210−6.2%
70445$1,210−6.2%
70447$2,030+57.4%
70448$1,570+21.7%
70452$1,210−6.2%

Questions about ZIP 70435 rents

How much will Section 8 pay for a two-bedroom in ZIP 70435?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,354, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,219 to $1,489 a month; under the ZIP-level Small Area FMR of $1,290 it would be $1,161 to $1,419. 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 70435 in?

ZIP 70435 is in the Slidell-Mandeville-Covington, LA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,354.

How much did fair market rent change in ZIP 70435 for FY 2027?

The two-bedroom FMR fell 3.7%, from $1,340 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 6.6%.

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