Location: Assumption Parish, LA | Metro: Assumption Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
20.5% of residents in ZIP code 70390 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the area, as of fiscal year 2024, is set at $950, which represents the upper limit for rental agreements under the Section 8 program. In comparison, the average market rent reported by the Census ACS is $850, suggesting that landlords participating in Section 8 can expect slightly higher rental income than the general market. However, the median home value in the area stands at $161,965, reflecting a relatively affordable housing market where many homeowners might be sensitive to economic fluctuations.
$58,667 is the median income for ZIP 70390, a figure that landlords should consider when evaluating the financial stability of potential tenants. While this income level is below the national average, it aligns with the local cost of living and rental rates. The lack of available data on days on market (DOM) and the percentage of homes with price cuts indicates that the real estate market in 70390 is stable, with little indication of significant overpricing or prolonged vacancy periods.
In conclusion, for landlords and small-portfolio investors, ZIP code 70390 offers a balanced opportunity with a defined rental market and a clear understanding of the financial parameters through the Section 8 program. The FMR of $950 provides a secure baseline for rental income, while the actual market rent of $850 suggests a competitive edge for those willing to participate. Given the median income of $58,667 and the moderate demand for rentals, Section 8 can serve as a reliable source of tenants, ensuring steady occupancy and income. The verdict on Section 8 participation in ZIP 70390 is positive, offering a stable and predictable investment strategy.
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.