Location: Vermilion Parish, LA | Metro: Vermilion Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $900 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,180 |
| 5 Bedrooms | $1,369 |
| 6 Bedrooms | $1,533 |
| 7 Bedrooms | $1,656 |
| 8 Bedrooms | $1,739 |
U.S. Census Bureau data (2024)
The classification of ZIP code 70575 hinges significantly on the available data points. For fiscal year 2024, the Fair Market Rent (FMR) for ZIP 70575 is set at $820. However, the lack of specific market rent and home value figures complicates a direct comparison. Stability indicators are also sparse, with only the percentage of renters being reported at 0.0%, suggesting an overwhelmingly owner-occupied area.
In terms of yield, the FMR of $820 provides a benchmark for rental pricing. If the actual market rents were lower than $820, this could indicate a high-yield potential for landlords participating in the Section 8 program, assuming they can find tenants willing to meet the voucher requirements. Conversely, if market rents exceed $820, the yield from Section 8 properties would be lower relative to other investments in the area.
Regarding stability, the 0.0% figure for renters implies that almost all residents own their homes, which typically leads to a stable community but reduces the pool of potential Section 8 tenants. Without daily days on market (DOM) and median income data, it's challenging to fully assess the stability of the rental market. In such a scenario, landlords might face challenges in finding enough qualified tenants to fill vacancies, leading to periods where properties remain unrented.
Given these specifics, ZIP 70575 does not fit neatly into a high-yield/low-stability category typical of flip-style markets. Instead, it appears more akin to a steady-cashflow zone, provided that the landlord can secure a consistent stream of Section 8 tenants. The stability of the broader housing market is likely high due to the low vacancy rate implied by the low percentage of renters, but this same factor suggests that the rental market, particularly for subsidized housing, may be less stable.
To make a definitive call, additional data on market rents and home values would be necessary. This would allow for a clearer assessment of the potential yield and the ease of finding tenants within the constraints of 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.