Final FY 2009 Fair Market Rent Documentation System
The Final FY 2009 New Orleans-Metairie-Kenner, LA MSA FMRs for All Bedroom Sizes
The following table shows the Final FY 2009 FMRs by unit bedrooms.
Final FY 2009 FMRs By Unit Bedrooms
Efficiency
One-Bedroom
Two-Bedroom
Three-Bedroom
Four-Bedroom
Final FY 2009 FMR
$733
$811
$949
$1,219
$1,259
The remainder of this page provides complete documentation of the development of the
Final FY 2009 Fair Market Rents (FMRs) for
New Orleans-Metairie-Kenner, LA MSA.
This page provides a summary of how the Final FY 2009 FMRs
were developed and updated starting with the formation of the FY 2009 FMR Areas from the
metropolitan Core-Based Statistical Areas (CBSAs) as established by the Office of Management and Budget
and incorporating newly available 2006 American Community Survey (ACS) Data.
FY 2009 FMRs include information from local Random Digit Dialing (RDD) surveys conducted during the first
quarter of 2008. Aspects of the derivation of Final FY 2009 rents exlusive to FY 2009 are made explicit in the following text.
Aspects unchanged from FY 2008 can be reviewed by clicking on the associated link.
FY 2009 FMR Area Geography
FY 2009 FMR Areas Follow FY 2008 Area Definitions with Modifications
FY 2009 FMR areas continue to use the revised Office of Management and Budget (OMB)
area definitions that were first issued in 2003 along with HUD defined Metropolitan areas (HMFAs) as described in the
FY 2008 FMR documentation which can be found at (New Orleans-Metairie-Kenner, LA MSA FY 2008 FMR Documentation system).
FY 2009 areas reflect changes made to metropolitan areas by OMB through November 20, 2007 as published in OMB bulletin 08-01.
New Orleans-Metairie-Kenner, LA MSA is made up of the following:
Jefferson Parish, LA
; Orleans Parish, LA
; Plaquemines Parish, LA
; St. Bernard Parish, LA
; St. Charles Parish, LA
; St. John the Baptist Parish, LA
; and St. Tammany Parish, LA
.
New Orleans-Metairie-Kenner, LA MSA FMR Area Derivation (RECAP)
New Orleans-Metairie-Kenner, LA MSA is entirely within the old New Orleans, LA MSA;
therefore, no evaluations were made with regard to 2000 Census base rents or
2000 Census Median Family Incomes.
Final FY 2009 FMRs
HUD's Final FMRs initially made effective on October 1, 2008 did not include the results of a Random Digit Dialing (RDD) survey conducted
in New Orleans-Metairie-Kenner, LA MSA to determine if adjustments to FMRs are necessary due to the impacts of Hurricane Katrina and Rita. These results have been published
in the Federal Register on April 6, 2009 (available HERE) and made effective at the time of publication.
Final FY 2009 2-Bedroom FMR
New Orleans-Metairie-Kenner, LA MSA had a Random Digit Dialing survey completed in October, 2008. Since this data was finalized after the publication of Final FY2009 FMRs on
September 29, 2008, the RDD Results are evaluated against the FY2009 Final FMRs. The evaluation of the survey result is shown in the following table:
2009 RDD Evaluation for New Orleans-Metairie-Kenner, LA MSA
FY 2009 FMR
April 2009 Trended RDD Result
2009 RDD Error
Decision
$990
$949
±$44
Is ABS($990-$949)>$44 Is $41>$44 YES RDD Result Used
The Final FY 2009 Rents for All Bedroom Sizes
The following table shows the
Final FY 2009 FMRs by unit bedrooms.
The FMRs for units
with different numbers of bedrooms are computed from the ratio of the
2005 Revised Final FMRs (based on 2000 Decennial Census Data) for the different unit sizes to the
2005 2-Bedroom Revised Final FMRs. These Rent Ratios are applied to the
Final FY 2009 2-Bedroom FMR
to determine the Final FY 2009 FMRs
for the different size units.
Click on the links in the table to see how the bedroom rents were derived.
The FMRs for unit sizes larger than four bedrooms are calculated by adding 15 percent to the four bedroom FMR, for each extra bedroom.
For example, the FMR for a five bedroom unit is 1.15 times the four bedroom FMR, and the FMR for a six bedroom unit is 1.30 times the four bedroom
FMR. FMRs for single-room occupancy units are 0.75 times the zero bedroom (efficiency) FMR.