Location: Iberia Parish, LA | Metro: Vermilion Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $900 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
To effectively integrate ZIP 70528 into a Section 8 portfolio strategy, it's essential to understand the dynamics of the area. This ZIP code, located in Iberia Parish, Louisiana, presents itself primarily as a cash-flow anchor due to the favorable spread between the Fair Market Rent (FMR) and the actual market rents.
The FMR for ZIP 70528 in fiscal year 2024 is set at $840. In contrast, the current market rent stands at $815. This means that landlords participating in the Section 8 program can expect to receive a higher monthly rental income compared to the local market rates, ensuring a stable cash flow. Additionally, the median home value in this area is $96,118, which suggests that property values are relatively low, making it an attractive location for those looking to maintain consistent rental income without the risk of high property costs.
While ZIP 70528 does not offer significant potential for appreciation plays, given the lack of data on price-cut shares and days on market (DOM), it still serves as a valuable component of a diversified portfolio. The renter share in this ZIP code is 26.2%, indicating a substantial demand for rental properties. Furthermore, the median household income of $49,676 aligns well with the financial assistance provided by the Section 8 program, ensuring that tenants can afford the rent and are less likely to default.
In conclusion, ZIP 70528 should be considered as a cash-flow anchor within a Section 8 portfolio strategy. Landlords will benefit from the positive spread between the FMR and market rents, securing steady and reliable income streams. Although the area doesn't show strong signs of rapid appreciation, it offers a solid foundation for building a resilient investment portfolio, especially when paired with other properties that may serve as appreciation plays or further diversifiers.
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.