FY2027 Small Area FMR · New Orleans, LA

ZIP 70115 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 70115 (New Orleans, LA) is $1,980 a month, up 15.1% from FY2026. That is 34% above the New Orleans-Metairie, LA area-wide FMR of $1,480.

2-bedroom SAFMR$1,980per month ▲ 15.1%

Area-wide 2 BR FMR$1,480New Orleans-Metairie, LA

Rank in the area5thof 106 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,782

2 BR Small Area FMR$1,980

110% of SAFMR$2,178

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,470▲ 15.7%

1 BR$1,640▲ 14.7%

2 BR$1,980▲ 15.1%

3 BR$2,540▲ 16.0%

4 BR$2,990▲ 15.0%

FY2027 FY2026

Where 70115 sits in the New Orleans-Metairie, LA area

Of the 106 ZIP codes HUD lists for the area, 70115 has the 5th highest two-bedroom Small Area FMR. New Orleans-Metairie, LA is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,480 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,980 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,470	$1,323 – $1,617	$1,096	$1,270
1 bedroom	$1,640	$1,476 – $1,804	$1,229	$1,430
2 bedrooms	$1,980	$1,782 – $2,178	$1,480	$1,720
3 bedrooms	$2,540	$2,286 – $2,794	$1,900	$2,190
4 bedrooms	$2,990	$2,691 – $3,289	$2,233	$2,600

A household renting a two-bedroom home at the Small Area FMR of $1,980 needs about $79,200 a year to keep housing costs at 30% of income. The area median family income is $88,600 and the 80% low-income limit for four people is $70,900. ZIP code 70115 lies mainly in Orleans Parish. See the New Orleans-Metairie, LA metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
70113	New Orleans	1.8 mi	$1,230
70125	New Orleans	1.9 mi	$1,620
70118	New Orleans	2.0 mi	$1,660
70130	New Orleans	2.2 mi	$2,220
70163	New Orleans	2.4 mi	$1,530
70139	New Orleans	2.6 mi	$1,530

Questions

What is the Fair Market Rent for ZIP code 70115?

HUD's FY2027 Small Area Fair Market Rents for 70115 are $1,470 (studio), $1,640 (1 BR), $1,980 (2 BR), $2,540 (3 BR) and $2,990 (4 BR) a month.

What is the Section 8 payment standard in 70115?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 70115 that range is $1,782 to $2,178 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 70115?

The FY2026 income limits of the New Orleans-Metairie, LA area apply: median family income $88,600, low-income (80%) limit $70,900 for a family of four.