Location: Washington Parish, LA | Metro: Slidell-Mandeville-Covington, LA MSA
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 | $900 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $83,930 | 1.44% | A |
| 3BR | $1,560 | $141,395 | 1.1% | B |
| 4BR | $1,800 | $199,967 | 0.9% | C |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 70427, which includes Bogalusa, LA, has been set at $1070 for fiscal year 2024. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount that the Housing Choice Voucher Program will pay landlords for renting out units to eligible tenants. It's important to note that this is not the rent you should charge your tenants; rather, it's the ceiling on what the program will reimburse.
To put this into perspective, the average rent for ZIP 70427 based on Census American Community Survey (ACS) data is $782. This indicates that the FMR is higher than the typical market rate, providing landlords with a potentially stable income source that exceeds the usual rent levels. The difference between the FMR and the average rent suggests there might be room to negotiate rents above the market average but still within the voucher limits.
Bogalusa has a significant rental market, with 40.3% of residents being renters. This high percentage of renters can translate into a strong demand for affordable housing options, making Section 8 rentals a viable investment. However, the demand must be balanced against the supply of available units and the competition from other landlords participating in the program.
In terms of property acquisition, the median household income in Bogalusa is approximately $86,880. While this figure doesn't directly impact your rental income, it can affect the types of properties you consider purchasing. Properties that align with the income levels of potential tenants can be more attractive investments, ensuring a steady stream of qualified applicants.
Before committing to a Section 8 rental property, verify that the unit meets all the required quality standards set by the Housing Choice Voucher Program. These standards, known as the Housing Quality Standards (HQS), ensure that the property is safe and habitable. Meeting these standards is essential for approval and maintaining eligibility in the program.
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.