Location: Evangeline Parish, LA | Metro: Evangeline Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $680 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,170 |
| 5 Bedrooms | $1,357 |
| 6 Bedrooms | $1,520 |
| 7 Bedrooms | $1,642 |
| 8 Bedrooms | $1,724 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 70554 in fiscal year 2026 is set at $830. This figure represents the maximum amount that a landlord can receive from the Section 8 Housing Choice Voucher program for a unit in this area. It's important to note that this is the payment standard for Section 8, not the actual rent you might charge tenants.
To put this into perspective, the average rent for ZIP 70554 based on recent Census American Community Survey (ACS) data is $529. This means that the Section 8 voucher payment is significantly higher than the typical market rate, potentially offering a better financial return for landlords.
The 44.0% share of renters in the area indicates strong demand for rental properties. With nearly half of the population renting, there is a solid base of potential tenants who could benefit from the Section 8 program. This high percentage of renters also suggests that the market is competitive, which could work in your favor if you're willing to offer quality housing.
In terms of property acquisition, the median home value in ZIP 70554 is $81,256. This figure reflects the typical price range for homes in the area, which could be a reasonable starting point for purchasing a property to convert into a rental. Given the FMR of $830, you can expect to cover your mortgage payments, maintenance costs, and other expenses while still generating a profit.
Before proceeding with your first Section 8 rental in ZIP 70554, it's crucial to verify that the property meets the required inspection standards. The housing unit must pass a thorough inspection to ensure it is safe, decent, and sanitary. This will guarantee that you receive the full voucher payment without any deductions for substandard conditions.
In summary, the FMR of $830 offers a higher payment than the average local rent of $529, making it an attractive option for landlords. The 44.0% renter share points to a robust tenant pool, and the median home value of $81,256 provides insight into the cost of acquiring a rental property. Ensure your property passes the necessary inspection to secure full payment from the Section 8 program.
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.