Location: Houma-Bayou Cane-Thibodaux, LA | Metro: Houma-Bayou Cane-Thibodaux, LA MSA
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 | $830 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $263,979 | 0.55% | F |
| 4BR | $1,560 | $389,631 | 0.4% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 70360 within the Houma-Bayou Cane-Thibodaux, LA MSA metro area reveals several key insights for landlords and small-portfolio investors.
Firstly, regarding the rent math, it does not work favorably for landlords. The Fair Market Rent (FMR) set at $1,250 for the fiscal year 2024 is lower than the market rent, which stands at $1,340 according to ZORI. This indicates that landlords may not be able to fully cover their costs with the subsidized rent rates.
Secondly, the acquisition of properties in this area is relatively affordable. The median home value is $263,198, making it an attractive option for those looking to purchase rental properties. Additionally, the days on market (DOM) average of 67 days suggests that homes are selling quickly, and the low 0.2% price-cut share implies that sellers are not often forced to reduce their asking prices, indicating a stable market environment.
Lastly, there is a significant tenant demand in ZIP 70360. With a total population of 28,574, and 28.0% of them being renters, there is a notable segment of individuals seeking rental housing. This demand can provide a steady stream of potential tenants for landlords and investors.
In conclusion, while the rent math may not align perfectly due to the discrepancy between FMR and market rent, the affordability of property acquisition and strong tenant demand make ZIP 70360 a viable investment opportunity for landlords and small-portfolio investors. The quick sales and stable pricing indicate a healthy local real estate market, which can support ongoing rental operations.
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.