Location: Washington Parish, LA | Metro: Washington Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
A Section 8 investment in ZIP code 70450 presents several challenges that landlords must be prepared to address. First, the tenant turnover rate can be a significant issue when considering the discrepancy between the market rent and the Fair Market Rent (FMR) of $870 for fiscal year 2026 in the metropolitan area. This gap suggests that landlords may face difficulties in attracting tenants willing to pay the higher market rates, leading to frequent turnovers.
Vacancy exposure is another concern, particularly due to the lack of data on days on market (DOM). Without this information, it's challenging to predict how long properties might remain vacant, which could lead to financial strain for landlords. The typical home value in ZIP 70450 is $186,964, while the median income stands at $61,333. These figures indicate a potential risk for deferred maintenance, as the lower median income may limit tenants' ability to cover unexpected repairs or maintenance costs, leaving landlords responsible for these expenses.
Despite these risks, there are mitigating factors that make ZIP 70450 an attractive investment for Section 8 properties. The renter share of the population is 20.0%, which is relatively high. High renter density typically translates into a robust demand for rental vouchers, providing a steady stream of tenants who are financially backed by the government. This can help stabilize occupancy rates and reduce the likelihood of extended vacancies.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 70450 is moderate. While there are notable challenges related to tenant turnover and potential deferred maintenance issues, the high renter density and government-backed rental support offer a solid foundation for managing these risks effectively.
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.