Section 8 Fair Market Rent (FMR) for ZIP 70054 - 2027

FY 2027 Fair Market Rent Rates

ZIP 70054 (Gretna, LA) presents a mixed scenario when classified based on yield and stability. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1310, indicating a baseline for rental income. However, the lack of specific data on market rents and home values complicates a direct comparison. The Zillow data shows a range of home prices, from $205,000 to $1,350,000, suggesting variability in the market.

On the stability axis, the absence of key metrics such as the percentage of renters, days on market (DOM), and median income makes it difficult to provide a definitive assessment. Nonetheless, the fact that there are numerous listings on Zillow and other real estate platforms suggests an active market. This activity could imply a relatively stable environment, as properties are being listed and sold regularly.

Given the FMR of $1310, it is reasonable to assume that rental yields in ZIP 70054 are moderate, considering the wide range of home prices. Properties priced around $300,000 to $400,000, such as the $389,000 house at 1558 Annunciation St and the $309,000 house at 24 Olympic Ct, offer a more attainable entry point for investors. These properties could generate rental income close to the FMR, providing a steady cash flow.

Without more detailed local market data, ZIP 70054 appears to be neither a high-yield/low-stability flip-style market nor a purely steady-cashflow zone. Instead, it falls somewhere in between, offering opportunities for both short-term flipping and long-term rental investments. Investors should gather additional local market information to make informed decisions.

Data Sources: FMR data from HUD (2027).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.