Location: Acadia Parish, LA | Metro: Acadia Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The ZIP code 70537 is located in a rural area near Thibodaux, Louisiana. This neighborhood is sparsely populated with only 381 residents, making it an outlier in terms of density compared to most urban areas where Section 8 housing is typically sought after. Notably, there are no reported renters in the area, indicating a predominantly owner-occupied community. The lack of data on median income and median home value suggests that detailed economic metrics are unavailable, possibly due to the low population and limited housing stock.
Despite these characteristics, the Fair Market Rent (FMR) for a studio apartment in ZIP 70537 for fiscal year 2024 is set at $830. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 program, but without a comparison to the actual market rent, it's challenging to assess how competitive this rate is. Given the absence of renters and the limited data, it's reasonable to infer that the demand for rental properties in this area is minimal.
Considering the practical implications for investors, ZIP 70537 would likely be unsuitable for a hands-off voucher operator. The scarcity of renters means that finding tenants who qualify for and utilize Section 8 vouchers could be difficult. For a hands-on value-add buyer, however, the ZIP code might present opportunities if the investor is willing to develop properties that cater to potential renters or convert existing homes into rentals. Such an approach would require significant effort and possibly a broader strategy to attract and retain tenants in a less densely populated 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.