Location: Slidell-Mandeville-Covington, LA | Metro: Slidell-Mandeville-Covington, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
The market in ZIP code 70434, located in Louisiana, presents a dynamic environment for real estate investors, particularly those focused on Section 8 housing. The Fair Market Rent (FMR) for the area stands at $1480 for fiscal year 2024, indicating a baseline for rental pricing that aligns with government standards.
Despite the FMR being established, the current market rent is listed as N/A, suggesting a lack of recent data or significant activity in the private rental sector. This absence of information makes it challenging to compare the FMR with the actual market rates, but it also implies that the government-subsidized rents may be the primary driver in this ZIP code.
The N/A% price-cut share and N/A-day Days on Market (DOM) further highlight the limited availability of data on the rental market's performance. However, these figures do suggest a potential equilibrium between supply and demand, as there is no indication of widespread price reductions or extended periods of unsold properties.
The median home value is also marked as N/A, which could indicate a variety of factors, including a lack of recent sales data or a diverse range of property values within the ZIP code. This ambiguity around home values suggests that the residential market may be less active compared to the rental market, making it difficult to assess the overall health and trends of homeownership in the area.
The N/A% renter share points to an incomplete picture of the housing landscape in ZIP 70434. Typically, a high percentage of renters can signify long-term housing pressure, as it indicates a significant portion of the population relies on rental housing rather than owning homes. Without this figure, it's hard to determine if there is a substantial demand for rental units driven by a preference for renting over buying or other economic factors.
In summary, ZIP 70434 appears to be a market heavily influenced by government-subsidized rental programs, with limited data available to fully gauge the balance between supply and demand. Landlords and small-portfolio investors should focus on understanding the local subsidy rates and the needs of potential tenants to navigate this market effectively.
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.