Location: Lafayette, LA | Metro: Lafayette, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The rent math in ZIP 70519 does not clearly support the viability of Section 8 tenancy. The Fair Market Rent (FMR) for the area, set at $900 per month for fiscal year 2024, does not have a direct comparison to the current market rent due to insufficient data. However, the lack of market rent figures suggests potential challenges in attracting tenants willing to pay above the FMR.
Regarding acquisition affordability, the analysis is limited by missing data on the median home value, days on market (DOM), and the percentage of homes that required price cuts. Without these specific metrics, it's challenging to assess whether buying properties in this ZIP code would be financially feasible for landlords looking to enter the market. Additional research into local real estate trends and property values is recommended.
Tenant demand appears low in ZIP 70519. With only 71 residents in the area and a 0.0% renter share, finding eligible tenants who are interested in renting through the Section 8 program is unlikely. This demographic indicates a predominantly owner-occupied community, which could pose difficulties in filling rental units under a Section 8 contract.
In conclusion, ZIP 70519 presents significant hurdles for landlords and small-portfolio investors considering Section 8 properties. The unclear rent math, lack of affordability indicators, and minimal tenant demand make this ZIP code an unattractive investment opportunity. Potential investors should look elsewhere for better prospects or seek additional data to reassess the viability of 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.