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 70375 is located in a unique setting within the Baton Rouge, Louisiana area. This neighborhood is characterized by a very low population density, with only 178 residents recorded. Notably, there are no renters reported in this area, indicating a community primarily composed of homeowners. The lack of data on median income and median home value suggests that the area might be quite homogeneous or has limited housing stock, making it challenging to generalize about economic conditions.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 70375 as of the fiscal year 2024 is set at $1020. This figure represents the benchmark used by the U.S. Department of Housing and Urban Development (HUD) for determining the maximum allowable rent for Section 8 vouchers. However, due to the absence of reported market rent data, it's difficult to assess how competitive this FMR is relative to the actual local rental market. This gap in information could be attributed to the minimal rental activity in the area, which aligns with the 0.0% renter statistic.
Given these conditions, ZIP 70375 would likely be a challenging environment for a hands-off voucher operator. The scarcity of rental units means that there is little opportunity to manage multiple properties passively. On the other hand, a hands-on value-add buyer might find potential in this niche market. With such a small population and no existing rental market data, there is an opportunity to develop rental properties that cater to the specific needs of the area, potentially filling a gap in the local housing market. However, the success of such an endeavor would heavily depend on understanding the local dynamics and identifying the underlying reasons for the lack of rental activity.
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.