Location: St. James Parish, LA | Metro: St. James Parish, LA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,120 | $186,980 | 1.13% | B |
U.S. Census Bureau data (2024)
16.5% of the residents in ZIP code 70071 are renters, indicating a moderate demand for rental properties. Given the $970 Fair Market Rent (FMR) set for zip code 70071 for fiscal year 2024, landlords can expect to receive this amount per unit for Section 8 housing vouchers. This figure is notably lower than the $1,712 market rent reported by the Census Bureau's American Community Survey, suggesting that there is a significant gap between what voucher holders can afford and the actual market rates. However, the $170,916 median home value indicates that property values in the area are relatively stable and could provide a good long-term investment for small-portfolio investors.
$60,569 is the median income for households in ZIP 70071, which is important to consider when evaluating the financial health of potential tenants. Although the exact days on market (DOM) and the percentage of homes that have had their prices cut are not available, the combination of median income and median home value suggests a balanced market where neither extreme appreciation nor depreciation is likely.
The disparity between the FMR and the market rent highlights the challenge for landlords participating in the Section 8 program. Despite the lower rental income, the stability provided by government-backed vouchers can be attractive. The $970 FMR is a guaranteed payment, which can offer peace of mind compared to the volatility of the private rental market.
In conclusion, while the $970 FMR may seem low compared to the $1,712 market rent, the consistent income and stable property values make Section 8 participation a viable option for landlords and small-portfolio investors in ZIP 70071. The verdict on Section 8 for this area is positive, given the moderate demand and financial guarantees.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
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.