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 | $840 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,440 | $224,732 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 70455 stands out within its county due to a unique combination of demographic and economic factors. With a population of 2,181 residents, it has a relatively low rental rate of 8.6%, indicating that most homeowners in this area own their properties outright. The median income here is $57,182, which is modest but sufficient for the majority to afford homeownership at the median home value of $227,455.
Turning to the voucher economics, the Fair Market Rent (FMR) for ZIP 70455 in fiscal year 2024 is set at $1,160. This figure is critical for landlords and small-portfolio investors as it represents the maximum rent that can be charged to tenants using Section 8 vouchers. Given the absence of specific market rent data, the FMR serves as a benchmark for rental pricing in subsidized housing units.
Based on the available data, the ZIP 70455 presents a stable environment for real estate investment. The low rental rate suggests a strong preference for homeownership among the local populace, which aligns with the median home value indicating a middle-class community. However, the presence of Section 8 vouchers ensures that there is still a segment of the population relying on government assistance for housing, making it an important consideration for those managing rental properties. The stability of the data signature implies consistent trends in both income levels and housing values, providing a predictable framework for investment decisions.
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.