Location: Houma-Bayou Cane-Thibodaux, LA | Metro: Houma-Bayou Cane-Thibodaux, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
1080 is the Fair Market Rent (FMR) for ZIP code 70397 for fiscal year 2024, setting a benchmark for rental properties in the area. 161,560 represents the median home value, indicating a relatively stable housing market. However, 0.0% is the share of renters in this ZIP code, suggesting a predominantly owner-occupied community. 115,455 is the median income figure, providing insight into the financial capabilities of residents. The day's DOM (Days on Market) is listed as N/A, which means there isn't enough recent data to determine how long homes typically stay on the market before selling. 0.2% is the price-cut share, revealing that very few listings have their prices reduced, a sign of strong seller demand.
Investors considering Section 8 properties in ZIP 70397 should note the high FMR of $1080, which can support higher rents. Despite the low renter share, the median income of $115,455 suggests that tenants could afford higher rents, potentially making Section 8 properties more competitive. The median home value of $161,560 indicates a robust local economy, but the lack of recent sales data complicates assessing market trends. The minimal price-cut share of 0.2% implies that homes are selling at or near asking prices, a positive sign for property owners.
Given these figures, landlords and small-portfolio investors should find ZIP 70397 favorable for Section 8 properties due to the strong income levels supporting rent payments and the high FMR aligning with potential rental rates.
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.