Location: Slidell-Mandeville-Covington, LA | Metro: Slidell-Mandeville-Covington, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,180 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 housing in ZIP code 70458, located in Slidell, LA, must be carefully considered. First, tenant turnover is likely to be high due to the disparity between the market rent of $1,420 and the Fair Market Rent (FMR) of $1,510 for FY 2024. Landlords should expect that tenants might leave when their voucher expires, seeking better deals elsewhere. Second, there is significant exposure to vacancy given an average Days on Market (DOM) of 85 days, which is longer than desirable for quick occupancy. This extended period can lead to financial strain and lost rental income. Third, the deferred maintenance risk is substantial considering the typical home value of $215,557 and the median income of $72,843. The lower median income suggests that residents may struggle to afford necessary repairs and maintenance, potentially leading to higher maintenance costs for landlords.
However, these risks are offset by the high renter share of 28.2%, indicating a robust demand for rental properties. A high concentration of renters often translates into a greater number of Section 8 voucher holders looking for housing, which can stabilize occupancy rates. Additionally, the demand for affordable housing tends to remain steady even during economic downturns, providing a degree of financial security.
In conclusion, despite the challenges posed by high turnover and vacancy risks, the strong demand for rentals makes ZIP 70458 a moderate risk for a first-time Section 8 landlord.
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.