Location: St. Mary Parish, LA | Metro: St. Mary Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
The analysis for the Section 8 program in ZIP code 70540 centers around the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area for fiscal year 2026 is set at $950. However, the market rent for this ZIP code is currently listed as N/A, indicating that there is insufficient data to provide a precise figure.
In the absence of market rent data, we can still derive insights based on the FMR. The FMR represents the maximum amount that a Section 8 tenant would pay in rent, which is crucial for understanding the potential rental income from voucher holders. Given that the market rent data is unavailable, we cannot calculate the exact gap in dollars or percentage between the FMR and the market rate. However, it's important to note that if the FMR were higher than the market rent, it would suggest that landlords could potentially earn a higher yield by renting to voucher tenants, as they would be receiving an amount closer to the FMR rather than the lower market rate.
Conversely, if the FMR is lower than the market rent, landlords might face a shortfall when renting to voucher tenants. This scenario would mean that landlords are accepting a fixed rent amount that is below what they could charge in the open market, thereby reducing their overall rental income. In such cases, landlords must carefully consider the trade-offs between the guaranteed payment from the Section 8 program and the potential for higher rents from non-voucher tenants.
The analysis is anchored in the broader context of Unknown, LA. Here, the percentage of renters is N/A%, the median home value is N/A, and the median income is also listed as N/A. These figures highlight the lack of comprehensive data available for making precise comparisons between the FMR and the local market conditions. Landlords should proceed with caution, relying on other sources of information to fill in these gaps and make informed decisions about participating in the Section 8 program.
Data Sources: FMR data from HUD (2027).
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.