Location: Houma-Bayou Cane-Thibodaux, LA | Metro: Assumption 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 | $770 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $149,953 | 0.74% | D |
| 3BR | $1,350 | $246,361 | 0.55% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 70301, which covers Thibodaux, Louisiana, is set at $1,110 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you would receive; rather, it's the ceiling on the rent subsidy provided by the government.
To put this into perspective, the typical market rent in ZIP 70301, known as the ZORI (Zillow Rent Index), stands at $1,518. This indicates that the average rent charged by landlords in the area is higher than the FMR. Therefore, if you're considering participating in the Section 8 program, your rental income will be lower compared to the market rate.
The renter share, which is 25.4% of the tenant's income, must be paid by the tenant towards the rent. This percentage helps gauge the potential demand for Section 8 rentals. In ZIP 70301, this means that about a quarter of renters might be eligible for the Section 8 program, creating a steady but not overwhelming demand.
If you're looking to acquire a property in this area, the median home value is approximately $224,504. This figure gives you an idea of the investment required to enter the Section 8 rental market in Thibodaux.
Before making your decision, it's crucial to verify that the property meets all the necessary requirements for the Section 8 program. This includes ensuring the property passes the Housing Quality Standards (HQS) inspection, which checks for basic livability and safety standards.
In summary, the FMR of $1,110 limits your potential rent subsidy income, while the local market rent of $1,518 shows the gap between market rates and Section 8 payments. With a 25.4% renter share, there is a moderate demand for affordable housing in Thibodaux. A median home value of $224,504 suggests the scale of investment needed. Lastly, confirming that your property complies with HQS standards is essential before committing to a Section 8 rental.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.