Location: St. Mary Parish, LA | Metro: Assumption Parish, LA HUD Metro FMR Area
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 | $780 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $143,015 | 0.94% | C |
U.S. Census Bureau data (2024)
The ZIP code 70380 encompasses a neighborhood that is predominantly residential, with a total population of 20,529. Approximately 31.1% of the residents are renters, indicating a significant portion of the community relies on rental housing. The median household income in this area is $54,595, which is relatively modest compared to national averages. Reflecting the economic conditions, the median home value stands at $122,685, suggesting that homeownership is accessible but not without financial constraints.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP 70380 as of the fiscal year 2024 is set at $1030. This figure is notably higher than the reported market rent of $883, according to the latest Census ACS data. The discrepancy between the FMR and the actual market rent highlights an opportunity for landlords and investors who can offer quality rental properties at or near the FMR, potentially attracting tenants with Section 8 vouchers.
Given these factors, ZIP 70380 could be a suitable location for both hands-off voucher operators and hands-on value-add buyers. For those preferring a hands-off approach, the higher FMR compared to the market rent means there is a clear margin where Section 8 vouchers can cover the costs of maintaining properties at a decent standard. On the other hand, for hands-on investors looking to improve property values and rents, there is potential to renovate existing homes and increase rental rates closer to the FMR, thereby capturing a greater share of the subsidy while providing better living conditions for tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.