Section 8 Fair Market Rent (FMR) for ZIP 70464 - 2027

Location: Slidell-Mandeville-Covington, LA | Metro: Slidell-Mandeville-Covington, LA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$950
1 Bedroom	$1,030
2 Bedrooms	$1,210
3 Bedrooms	$1,560
4 Bedrooms	$1,800
5 Bedrooms	$2,088
6 Bedrooms	$2,339
7 Bedrooms	$2,526
8 Bedrooms	$2,652

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

109

Median Household Income

$N/A

Housing Units

110

Renter Percentage

100.0%

Occupancy Rate

57.3%

Renter Occupied

The ZIP code 70464, located in Ascension Parish, Louisiana, is characterized by a strong demand for rental properties, driven by a high percentage of renters and relatively low vacancy rates. The Fair Market Rent (FMR) for the area has been set at $1360 for fiscal year 2024, providing a benchmark for rental pricing.

Fair Market Rent: The FMR for ZIP 70464 is $1360, which indicates the average rent level that can be charged for a standard unit without being considered overpriced.
Rental Demand: With a 100.0% renter share, there is a clear and consistent demand for rental housing in the area, suggesting that landlords can expect steady occupancy rates.
Homeownership: The absence of a median home value suggests that the area is predominantly made up of rental properties, rather than owner-occupied homes.
Days on Market (DOM): Although the specific DOM figure is not available, a 100.0% renter share typically correlates with quick turnover and lower vacancy rates.
Median Income: Without a specific median income figure, it's challenging to assess the financial capacity of potential tenants, though the FMR provides a useful guideline for affordability.
Market Rent: The lack of data on market rent means that while the FMR offers a baseline, there could be opportunities for landlords to charge slightly above this amount depending on property quality and amenities.

Investors looking to enter the rental market in ZIP 70464 should focus on properties that offer good value and meet the local standards for rental units. Given the high renter share and established FMR, there is a solid foundation for a profitable investment, but careful attention must be paid to tenant selection and property management to maintain occupancy levels and avoid vacancies.

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.