Location: Hammond, LA | Metro: Hammond, 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 | $750 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $264,908 | 0.47% | F |
| 4BR | $1,370 | $321,545 | 0.43% | F |
U.S. Census Bureau data (2024)
The housing in ZIP 70446, located in Loranger, Louisiana, within the Hammond MSA, presents a unique opportunity for landlords and small-portfolio investors. The median home value of $211,600 is significantly lower than the national median of $338,100. This makes ZIP 70446 a diversifier within a Section 8 portfolio strategy.
The median monthly rent for a 4-bedroom home in this area is $1,230, while the Fair Market Rent (FMR) for a similar unit in FY 2024 is $1,140. This indicates a slight positive spread between the FMR and market rent, providing a stable cash flow. However, the primary reason to consider ZIP 70446 as a diversifier is its relatively low median home value and the fact that only 16.6% of the population are renters, with a median income of $71,892. These factors suggest a balanced mix of homeownership and rental properties, reducing the risk associated with high renter concentration.
Additionally, the recent home appreciation rate in ZIP 70446 has been strong, with a 14.5% increase over the past year and a 53.3% increase over the last decade. This appreciation trend can provide a buffer against inflation and contribute to long-term asset growth.
While the property tax rate in ZIP 70446 is lower at $4.33 compared to the national average of $10.98, the actual amount paid in property taxes is also lower at $722 versus the national average of $2,690. This further supports the area's role as a diversifier, offering a combination of stable cash flow and potential for capital appreciation without the burden of high property taxes.
Investors should note that the median age of homes in ZIP 70446 is 21 years, indicating a younger housing stock that could appeal to a broader range of tenants. Furthermore, the area has a low vacancy rate for rental units, suggesting steady demand for rental properties.
In summary, ZIP 70446 is best suited as a diversifier within a Section 8 portfolio due to its balanced mix of homeownership and rental properties, stable cash flow, and potential for capital appreciation.
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.