Section 8 Fair Market Rent (FMR) for ZIP 70517 - 2027

Location: Lafayette, LA | Metro: Lafayette, LA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$900
2 Bedrooms	$1,010
3 Bedrooms	$1,270
4 Bedrooms	$1,490
5 Bedrooms	$1,728
6 Bedrooms	$1,935
7 Bedrooms	$2,090
8 Bedrooms	$2,195

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

26,024

Median Household Income

$60,778

Housing Units

11,779

Renter Percentage

24.2%

Occupancy Rate

81.4%

Renter Occupied

2,323

Housing Authorities Serving ZIP 70517

Housing Authority of the City of Lafayette (Lafayette, LA) - 2,172 Section 8 vouchers
ST. MARTIN PARISH POLICE JURY (Saint Martinville, LA) - 346 Section 8 vouchers
St. Martinville City (Saint Martinville, LA) - 53 Section 8 vouchers
Housing Auth. of The Town of St. Martinville (Saint Martinville, LA)
Housing Authority of the City of Breaux Bridge (Breaux Bridge, LA)
Housing Authority of Duson (Duson, LA)
Housing Authority of the Town of Youngsville (Youngsville, LA)
Housing Authority of the Village of Parks (Saint Martinville, LA)

The ZIP code 70517, located in Ascension Parish, Louisiana, offers a stable real estate market for both landlords and small-portfolio investors. This suburban area is characterized by its blend of residential neighborhoods and proximity to urban amenities, making it an attractive location for rental properties.

The Fair Market Rent (FMR) for ZIP 70517 for fiscal year 2024 is set at $930. This figure represents the maximum amount that a tenant receiving housing assistance can be expected to pay for a two-bedroom apartment, providing a benchmark for rental pricing.
The average market rent for a two-bedroom apartment in ZIP 70517, according to the latest Census ACS data, stands at $978. This indicates that the local rental market slightly exceeds the government's FMR, offering landlords a margin above subsidized rates.
The median home value in ZIP 70517 is $176,284. This suggests that the area is affordable for first-time homebuyers and investors looking to purchase rental properties without significant capital outlay.
Renters make up 24.2% of the total housing units in ZIP 70517, indicating a moderate demand for rental properties. This percentage reflects a balanced market where homeownership is still prevalent but rental opportunities exist.
The median household income in ZIP 70517 is $60,778. This income level supports a steady stream of potential tenants who can afford the average market rent, ensuring a reliable tenant pool.
Due to limited recent sales data, the days on market (DOM) for rental listings is not available. However, the other metrics suggest a stable market with consistent demand.

Synthesizing these points, ZIP 70517 presents a viable investment opportunity for landlords and small-portfolio investors. The slight premium of market rents over FMRs, combined with a median home value that is relatively low, makes it possible to achieve positive cash flow. The moderate renter share indicates a balanced market, while the median income supports the ability of residents to meet rental obligations. Although specific days on market data is unavailable, the overall stability and affordability of the area suggest that rental properties will continue to attract tenants, making it a sound choice for real estate investments.

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.