Location: Acadia Parish, LA | Metro: Acadia Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $620 |
| 1 Bedroom | $680 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,060 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 70534 is characterized by a dynamic interplay between federal guidelines and local realities, with the Fair Market Rent (FMR) set at $820 for the fiscal year 2024. This figure, established by HUD, serves as a benchmark for what is considered affordable in the area. In contrast, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $748. This discrepancy suggests that while the federal standard is higher, local landlords are setting their rents below this threshold to remain competitive.
The lack of specific data on price-cut shares and days on market (DOM) makes it challenging to definitively state whether supply outpaces demand or vice versa. However, the fact that market rents are below the FMR indicates that there might be a slight surplus of rental units, as landlords adjust their pricing to attract tenants. This could imply a modest level of competition among landlords to fill vacancies.
A significant 34.7% of households in ZIP 70534 are renters, which is a notable share and points towards ongoing housing pressure. A high percentage of renters often signals a market where affordability concerns are prevalent, and homeownership is less accessible to many residents. This demographic trend suggests that the rental market will likely continue to be an essential component of the local housing landscape, providing critical accommodation options for a substantial portion of the population.
In summary, ZIP 70534 presents a rental market where federal standards exceed local practice, hinting at a balance that leans slightly towards a surplus of units. The considerable share of renters underscores the importance of the rental sector and implies sustained demand driven by the need for affordable housing options.
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.