Location: St. Mary Parish, LA | Metro: Iberia Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 70544 in St. Mary Parish, Louisiana, reveals key insights for potential Section 8 landlords and small-portfolio investors.
The rent math does work in favor of market conditions. The Fair Market Rent (FMR) for ZIP 70544 in fiscal year 2024 is set at $840, which is slightly higher than the reported market rent of $775 according to the Census ACS. This indicates that landlords participating in the Section 8 program can expect to receive a rent subsidy that exceeds the typical market rate, providing a financial advantage.
Acquisition of properties in this area is moderately affordable. With a median home value of $89,769, purchasing a property is within reach for many investors. However, the lack of data on days on market (DOM) and the percentage of homes requiring price cuts suggests that the local real estate market dynamics might be less transparent. Investors should conduct further due diligence to understand the local market trends and adjust their expectations accordingly.
Tenant demand is present but limited. The total population of ZIP 70544 is 10,269, with 25.5% of residents being renters. While this percentage shows a significant portion of the population seeking rental housing, the overall size of the zip code's population limits the pool of potential tenants. Landlords should consider the demographic makeup and economic stability of the area to gauge the sustainability of tenant demand.
In conclusion, ZIP 70544 presents a viable opportunity for Section 8 landlords and small-portfolio investors. The favorable rent math, with FMR exceeding market rates, supports positive cash flow. Although the acquisition cost is reasonable, the opaque nature of market dynamics requires careful consideration. Tenant demand exists, but it is constrained by the zip code's relatively small population. Investors should weigh these factors carefully before committing to this market.
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.