Location: Houma-Bayou Cane-Thibodaux, LA | Metro: Houma-Bayou Cane-Thibodaux, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The ZIP code 70357 stands out in its county with a total of 2,351 residents, where 24.4% of the population rents their homes. The median income for the area is $71,383, indicating a moderate economic status among its inhabitants. However, the median home value is slightly higher at $81,751, suggesting that homeownership is valued and somewhat affordable despite the modest incomes.
Moving into the specifics of Section 8 housing, the Fair Market Rent (FMR) for ZIP 70357 in fiscal year 2024 is set at $890. This is notably above the market rent average of $756, as reported by the Census Bureau's American Community Survey. The difference between the FMR and the actual market rent indicates that landlords participating in the Section 8 program can expect to receive a higher rental rate compared to the local market average. This discrepancy could be beneficial for landlords who are looking to stabilize their rental income while still providing affordable housing options to eligible tenants.
The data signature for ZIP 70357 reads as stable. With a relatively low percentage of renters and a modest but not low median income, the area shows signs of financial stability among its residents. The higher FMR compared to the market rent suggests that there is a balance between affordability and compensation for landlords, which can support long-term investment decisions without the risk of significant market fluctuations. For small-portfolio investors, this ZIP code offers a predictable environment where the Section 8 program can serve as a reliable source of rental income.
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.