JeffCroweCRE

Housing market/Louisiana/ZIP 70124

ACS 2023 · FY2027 SAFMR

ZIP 70124 New Orleans, Louisiana

New Orleans-Metairie, LA HUD Metro FMR Area · Louisiana. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
20,840
Households
7,977
Median HH income
$121,318
Renter share
23.7%
Median gross rent
$1,752
Vacancy
10.6%
Pop. change
+1.0%
2BR SAFMR
$2,180
SAFMR / rent
1.244×
2–49 unit stock
2,056
LIHTC proj / units
—
HUD assisted MF
—

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 70124 · LA — sent to you.

ZIP 70124 · LA

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ACS rent vs 2BR SAFMR

ZIP 70124 — New Orleans, LA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,752
2BR SAFMR$2,180
90% floor$1,962
110% ceiling$2,398

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 70124

  • 1-unit detached5,76664.7%
  • 1-unit attached7888.8%
  • 2–4 units1,76219.8%
  • 5–49 units2943.3%
  • 50+ units2993.4%
TypeUnitsShare
1-unit detached5,76664.6%
1-unit attached7888.8%
2 units (duplex)1,59517.9%
3–4 units1671.9%
5–9 units690.8%
10–19 units740.8%
20–49 units1511.7%
50+ units2993.4%
Mobile00.0%

2–4 unit share 19.8% · 5–49 unit share 3.3% · combined 2–49 23.1%.

Units by bedrooms

Studio
101
1BR
679
2BR
1,948
3BR
3,598
4BR
1,951
5+
642

Rent burden

Rent ≥30% of income36.0%
Rent ≥50% of income15.1%
  • ACS median gross rent $1,752 (all bedrooms, occupied rentals).
  • Median contract rent $1,528.
  • Renters paying ≥30% of income 36.0%; ≥50% 15.1%.
  • FY2027 2BR SAFMR $2,180 (1.244× ACS median gross rent).

Population

20,840 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +1.0%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: not published for this ZIP.
  • HUD project-based assisted MF: not published for this ZIP.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 318 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 70124 23.7% of occupied households are renters; vacancy is 10.6%; ACS median gross rent is $1,752; population increased +1.0% between the 2018 and 2023 ACS vintages; the housing stock includes 1,762 units in 2–4-unit structures and 294 units in 5–49-unit structures; FY2027 2BR SAFMR is $2,180 versus ACS median gross rent of $1,752. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Louisiana research

ZIP 70124 is a Census / HUD profile for New Orleans-Metairie, LA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 70124 — New Orleans, LA HUD Section 8 Payment Standards / SAFMR·Louisiana ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
70001New Orleans-Metairie, LA HUD Metro FMR Area49.0%$1,145$1,64070002New Orleans-Metairie, LA HUD Metro FMR Area49.2%$1,128$1,39070003New Orleans-Metairie, LA HUD Metro FMR Area23.3%$1,191$1,45070004New Orleans-Metairie, LA HUD Metro FMR Area——$1,43070005New Orleans-Metairie, LA HUD Metro FMR Area34.9%$1,160$1,44070006New Orleans-Metairie, LA HUD Metro FMR Area38.6%$1,206$1,46070009New Orleans-Metairie, LA HUD Metro FMR Area——$1,43070010New Orleans-Metairie, LA HUD Metro FMR Area——$1,43070011New Orleans-Metairie, LA HUD Metro FMR Area——$1,43070030New Orleans-Metairie, LA HUD Metro FMR Area7.4%$1,765$2,02070031New Orleans-Metairie, LA HUD Metro FMR Area13.1%$1,151$1,51070032New Orleans-Metairie, LA HUD Metro FMR Area28.7%$998$1,210

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Louisiana research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 70124?

ZIP 70124 (New Orleans-Metairie, LA HUD Metro FMR Area) has 20,840 residents, 7,977 households, a renter share of 23.7%, median household income of $121,318, and ACS 2023 median gross rent of $1,752. Vacancy is 10.6%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 70124?

ACS counts 1,595 units in 2-unit buildings, 167 in 3–4 unit buildings, 69 in 5–9, 74 in 10–19, and 151 in 20–49. Combined 2–49 unit stock is 2,056 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 70124?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,180. See the full schedule and 90–110% payment-standard band on the ZIP 70124 — New Orleans, LA HUD Section 8 Payment Standards / SAFMR.

Does this Louisiana ZIP profile include Georgia listings?

No. ZIP 70124 is Census / HUD research for New Orleans-Metairie, LA HUD Metro FMR Area. Jeff Crowe CRE does not list Louisiana property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.