Location: Houma-Bayou Cane-Thibodaux, LA | Metro: Houma-Bayou Cane-Thibodaux, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 70343 within the Houma-Bayou Cane-Thibodaux, LA MSA reveals mixed prospects for landlords and small-portfolio investors.
The rent math does not work favorably for landlords. The Fair Market Rent (FMR) for ZIP 70343 in fiscal year 2024 is set at $960, which is significantly lower than the market rent of $1,332 as reported by the Census ACS. This discrepancy suggests that landlords who rely on Section 8 vouchers will need to adjust their expectations or find ways to reduce costs to maintain profitability.
Acquisition appears to be relatively affordable for investors looking to purchase properties. With a median home value of $230,018, the entry barrier is not exceedingly high. However, the lack of data regarding the average number of days on the market (DOM) and the percentage of homes that required price cuts indicates uncertainty about the current market conditions and the ease of acquiring properties at optimal prices.
Tenant demand is modest in ZIP 70343. The area has a total population of 5,280, with only 9.9% of residents being renters. This low renter share implies a smaller pool of potential tenants, which could lead to increased competition among landlords and potentially affect occupancy rates.
Verdict: While the median home value makes property acquisition feasible, the mismatch between FMR and market rent, along with the limited tenant demand, presents challenges for landlords and small- portfolio investors. Profitability may be constrained, and securing tenants could require strategic planning and marketing efforts.
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.