Location: Lafayette, LA | Metro: Assumption Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The ZIP code 70339 stands out with its unique data profile. With a total of 4,848 residents, only 7.8% of whom rent their homes, it reflects a predominantly owner-occupied community. The median income in this area is $51,659, indicating a modest economic status among its inhabitants. Notably, the median home value is significantly higher at $205,177, suggesting that homeownership is a substantial financial commitment for those who live there.
When examining the rental market dynamics, the Federal Market Rent (FMR) for ZIP 70339 is set at $940 for fiscal year 2024. This figure contrasts sharply with the actual market rate, which is recorded at $749 according to the Census ACS. This discrepancy means that landlords participating in the Section 8 program can expect a higher rental income compared to the general market rates, potentially making this ZIP code an attractive option for those willing to accept housing vouchers.
The data signature of ZIP 70339 reads as stable. Despite the relatively low percentage of renters, the high median home value indicates a settled community where long-term residency is common. The disparity between FMR and market rates suggests a consistent demand for affordable housing options, supported by government subsidies. For small-portfolio investors and landlords, this stability provides a reliable framework for investment decisions, ensuring predictable returns through the Section 8 program.
Data Sources: FMR data from HUD (2027). 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.