Location: St. Landry Parish, LA | Metro: Lafayette, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
ZIP code 70512, located within St. Landry Parish, Louisiana, presents an interesting comparison against the typical ZIP codes in its metro area. The Fair Market Rent (FMR) for 70512 in fiscal year 2024 is set at $890, which is notably higher than the market rent of $534. This indicates that the subsidized rental rates are significantly above what the market would naturally dictate, suggesting a potential opportunity for landlords who can leverage this subsidy to offset higher operational costs.
The median home value in 70512 stands at $166,340, which is relatively low compared to many other ZIP codes in the metro area. This lower home value, combined with the higher FMR, points towards a possible value pocket for both landlords and investors. A value pocket typically offers properties at a price point that is more affordable yet still benefits from government subsidies, making it attractive for those looking to enter the rental market without a large capital investment.
The renter share in 70512 is 19.1%, which is slightly above the average for St. Landry Parish, LA. This suggests a modest but notable presence of renters, indicating that there is demand for rental properties. However, the combination of a below-average home value and a higher-than-average renter share could be indicative of a sweet spot for Section 8 properties. Such areas tend to have a significant number of renters who rely on housing assistance programs, thereby creating a stable tenant pool for landlords willing to participate in these programs.
To summarize, ZIP 70512 appears to be a value pocket within the St. Landry Parish, LA metro, characterized by a favorable FMR-to-market-rent ratio and a modestly elevated renter share. These factors suggest that it could be particularly appealing for landlords and investors interested in the Section 8 market, where the financial support from the government can help mitigate risks associated with lower property values and provide a steady income stream.
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.