FY2027 Small Area FMR · New Orleans, LA

ZIP 70124 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 70124 (New Orleans, LA) is $2,180 a month, up 13.0% from FY2026. That is 47% above the New Orleans-Metairie, LA area-wide FMR of $1,480.

2-bedroom SAFMR$2,180per month ▲ 13.0%

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

Rank in the area2ndof 106 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,962

2 BR Small Area FMR$2,180

110% of SAFMR$2,398

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

Studio$1,610▲ 13.4%

1 BR$1,810▲ 12.4%

2 BR$2,180▲ 13.0%

3 BR$2,800▲ 14.3%

4 BR$3,290▲ 12.7%

FY2027 FY2026

Where 70124 sits in the New Orleans-Metairie, LA area

Of the 106 ZIP codes HUD lists for the area, 70124 has the 2nd 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 $2,180 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	$1,610	$1,449 – $1,771	$1,096	$1,420
1 bedroom	$1,810	$1,629 – $1,991	$1,229	$1,610
2 bedrooms	$2,180	$1,962 – $2,398	$1,480	$1,930
3 bedrooms	$2,800	$2,520 – $3,080	$1,900	$2,450
4 bedrooms	$3,290	$2,961 – $3,619	$2,233	$2,920

A household renting a two-bedroom home at the Small Area FMR of $2,180 needs about $87,200 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 70124 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
70005	Metairie	1.9 mi	$1,440
70119	New Orleans	2.4 mi	$1,750
70122	New Orleans	2.5 mi	$1,590
70148	New Orleans	2.7 mi	$1,210
70002	Metairie	3.5 mi	$1,390
70116	New Orleans	3.6 mi	$1,540

Questions

What is the Fair Market Rent for ZIP code 70124?

HUD's FY2027 Small Area Fair Market Rents for 70124 are $1,610 (studio), $1,810 (1 BR), $2,180 (2 BR), $2,800 (3 BR) and $3,290 (4 BR) a month.

What is the Section 8 payment standard in 70124?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 70124 that range is $1,962 to $2,398 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 70124?

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.