Section 8 Fair Market Rent (FMR) for ZIP 70549 - 2027
Location: Jefferson Davis Parish, LA | Metro: Lake Charles, LA HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$57,692
Housing Authorities Serving ZIP 70549
- HOUSING AUTHORITY OF LAKE CHARLES (Lake Charles, LA) - 2,443 Section 8 vouchers
- Calcasieu Parish Human Services Department (Lake Charles, LA) - 576 Section 8 vouchers
- Housing Authority of the City of Sulphur (Sulphur, LA) - 190 Section 8 vouchers
- Jefferson Davis Parish Section 8 (Jennings, LA) - 132 Section 8 vouchers
- Housing Authority of the Town of Vinton (Vinton, LA) - 50 Section 8 vouchers
- Housing Authority of the City of Jennings (Jennings, LA)
- Housing Authority of the City of DeQuincy (Dequincy, LA)
- Housing Authority of the Town of Lake Arthur (Lake Arthur, LA)
- Housing Authority of the Town of Welsh (Welsh, LA)
- Village of Fenton Housing Authority (Fenton, LA)
The ZIP code 70549, located in Ascension Parish, Louisiana, offers a unique blend of suburban living and proximity to urban amenities. This area is characterized by its affordable housing options and relatively stable rental market, making it attractive for both residents and real estate investors.
- Fair Market Rent (FMR): For the fiscal year 2024, the FMR for a two-bedroom apartment in ZIP 70549 is set at $890, providing a benchmark for rental pricing that reflects the local economic conditions.
- Market Rent: According to the latest Census ACS data, the average market rent for a similar-sized unit is $733, indicating a slightly below-average rental cost compared to the FMR, which could suggest a competitive market or potential for price increases.
- Median Home Value: The median home value in ZIP 70549 stands at $103,450, offering a low barrier to entry for homeownership and potentially lower acquisition costs for investment properties.
- Renter Share: With 24.0% of households being renters, there is a notable demand for rental units, but also a significant portion of owner-occupied homes, balancing the market dynamics.
- Median Income: The median household income in the area is $57,692, suggesting that many residents have the financial means to support rental payments at or near the FMR level.
The combination of a modest median home value and a fair market rent that exceeds the actual market rent suggests that there is room for price adjustment. However, the significant share of owner-occupied homes indicates a strong preference for homeownership among residents, which landlords should consider when setting rents. Given the median income, tenants can likely afford higher rents, aligning closer with the FMR. This makes ZIP 70549 a viable investment opportunity for those looking to enter a stable, yet potentially growing, rental market. Landlords and small-portfolio investors can expect a steady demand for rental properties, with the potential for increased rental income if market rates rise to meet the FMR.
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.