Section 8 Fair Market Rent (FMR) for ZIP 70513 - 2027

Location: Iberia Parish, LA | Metro: Iberia Parish, LA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$810
2 Bedrooms	$970
3 Bedrooms	$1,270
4 Bedrooms	$1,600
5 Bedrooms	$1,856
6 Bedrooms	$2,079
7 Bedrooms	$2,245
8 Bedrooms	$2,357

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$43,886

Housing Units

Renter Percentage

100.0%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 70513, located in Ascension Parish, Louisiana, is a suburban area characterized by a high concentration of renters and a moderate cost of living. This analysis provides insights into the rental market dynamics and potential investment opportunities for landlords and small-portfolio investors.

Fair Market Rent (FMR): The FMR for ZIP 70513 in fiscal year 2024 is set at $890, indicating the maximum amount that low-income families should pay for housing.
Rental Market: While specific market rent figures are not available, the high renter share of 100.0% suggests a strong demand for rental properties in the area.
Housing Inventory: The median home value data is not available, but the absence of homeowners likely means a lower competition for rental units.
Economic Indicators: The median income for the area is $43,886, which is below the national average, implying that rental prices should be kept affordable to match the local economic conditions.
Days on Market (DOM): Although the exact DOM figure is not provided, it's crucial for investors to understand that a higher DOM could indicate slower sales or rentals, affecting cash flow.
Renter Share: With 100.0% of residents being renters, there is a clear indication that the housing market in ZIP 70513 is heavily reliant on rental properties, presenting a significant opportunity for landlords.

In summary, ZIP 70513 offers a robust rental market with a high renter share and a defined fair market rent. However, investors must consider the lower median income when setting rental rates to ensure affordability and maintain occupancy levels. The lack of specific market rent data and median home values underscores the need for thorough local research to gauge competition and property values accurately. A keen understanding of these factors will enable landlords and small-portfolio investors to make informed decisions and capitalize on the strong demand for rental properties in this area.

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.