Section 8 Fair Market Rent (FMR) for ZIP 70531 - 2027

Location: Acadia Parish, LA | Metro: Acadia Parish, LA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$630
1 Bedroom	$690
2 Bedrooms	$910
3 Bedrooms	$1,090
4 Bedrooms	$1,270
5 Bedrooms	$1,473
6 Bedrooms	$1,650
7 Bedrooms	$1,782
8 Bedrooms	$1,871

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,477

Median Household Income

$N/A

Housing Units

740

Renter Percentage

12.4%

Occupancy Rate

87.4%

Renter Occupied

To determine if a landlord should buy in ZIP code 70531 for Section 8 purposes, follow this decision tree:

1) Does the Fair Market Rent (FMR) of $850 cover the debt service on a property?

No specific property price was provided, so we cannot calculate the exact debt service. However, if the monthly mortgage payment, including principal, interest, taxes, and insurance, exceeds $850, then the FMR does not clear the debt service. In such a case, investing in ZIP 70531 for Section 8 would be financially unwise.

2) Is the market rent of $879 (from Census ACS) above, at, or below the FMR?

The market rent of $879 is slightly above the FMR of $850. This suggests that landlords can potentially charge a little more than the FMR for non-Section 8 tenants, but they must be prepared to accept the lower FMR when renting to Section 8 participants.

3) Are 12.4% of residents renters and do the days on market (DOM) indicate sufficient demand?

The rental rate of 12.4% is relatively low, indicating that a smaller portion of the population is looking for rental housing. The days on market figure was not provided, so it's unclear how quickly properties are rented out. If the DOM is high, this could mean there is less demand for rentals, making it harder to fill units with Section 8 tenants. Conversely, if the DOM is low, it suggests strong demand, even if the percentage of renters is modest.

Decision:

If the debt service is higher than $850, do not invest in Section 8 properties in ZIP 70531.
If the debt service is lower than $850 and the market rent is above the FMR, consider investing, especially if the DOM indicates strong demand despite the low percentage of renters.
If the DOM is high, it depends on other factors such as vacancy rates and the local economy before making an investment decision.

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.