Section 8 Fair Market Rent (FMR) for ZIP 70381 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 70381, located in St. Mary Parish County, Louisiana, are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $950 for fiscal year 2026. This SAFMR figure is specifically tailored to reflect the rental market conditions within this ZIP code, ensuring that the rates are relevant and reflective of local costs.

While the local market rent for ZIP 70381 is currently not available, the SAFMR serves as the benchmark for determining the amount that can be reimbursed to landlords participating in the Housing Choice Voucher program, commonly known as Section 8. The reimbursement process involves several components:

• Tenant Portion: Tenants are required to pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,500 for a household in this area, the tenant would contribute $450 towards the monthly rent.
• Voucher Reimbursement: The Section 8 voucher program will cover the difference between the tenant's contribution and the SAFMR. In this case, it would be $950 - $450 = $500.
• Utility Allowances: Utility allowances vary but are typically included in the overall reimbursement calculation. For ZIP 70381, these allowances are not specified; however, they generally do not exceed the total rent amount. Therefore, if utilities are included, the landlord might receive slightly more than $500, depending on the exact allowance.

Landlords must understand that the reimbursement gap or surplus is contingent upon the actual market rent compared to the SAFMR. Since the local market rent is not available, we cannot calculate the precise gap or surplus. However, if the local market rent were higher than $950, landlords would face a shortfall, meaning they would receive less than the market rate. Conversely, if the local market rent is lower, landlords could potentially see a surplus, receiving more than what they might charge a non-voucher tenant.

In summary, for ZIP 70381, the SAFMR for a two-bedroom unit is $950, and landlords should expect a reimbursement of around $500 per month, assuming a standard tenant contribution of 30%. The inclusion of utility allowances can slightly increase this amount, but without specific local market rent data, the exact financial impact on landlords remains unclear.

Data Sources: FMR data from HUD (2027).

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.