Location: St. Landry Parish, LA | Metro: St. Landry Parish, LA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,360 | $223,423 | 0.61% | D |
U.S. Census Bureau data (2024)
ZIP code 70584, located within St. Landry Parish, Louisiana, presents a unique scenario when compared against typical ZIP codes within the same parish. The Fair Market Rent (FMR) for ZIP 70584 is set at $1,010 for the fiscal year 2026, which is notably higher than the market rent of $881. This suggests that federally subsidized rents through programs like Section 8 are priced above what the local market typically offers.
The median home value in ZIP 70584 is $197,860, indicating a middle-ground price point relative to other areas within the parish. This figure is neither exceptionally low nor high, positioning it as a mid-tier neighborhood in terms of property values.
A significant factor to consider is the 19.5% renter share, which is relatively high. In conjunction with the below-FMR market rent, this could signal a potential sweet spot for Section 8 properties. High renter share coupled with lower-than-subsidized market rents often points to an area where there is a strong demand for affordable housing options, making it attractive for landlords who can leverage the higher subsidy rates.
To further contextualize, let's examine how these metrics stack up against broader trends in St. Landry Parish. A typical ZIP code in this area would likely have a lower FMR due to the overall cost of living being less expensive than urban centers. The market rent of $881 in ZIP 70584 is indicative of a modest rental environment, suggesting that the area may not be experiencing rapid inflationary pressures on housing costs.
In summary, ZIP 70584 appears to be a mid-tier neighborhood within St. Landry Parish, with its median home value reflecting a balance between affordability and market expectations. Its high renter share and below-FMR market rent make it a potentially valuable area for landlords and investors interested in Section 8 properties, given the opportunity to benefit from higher subsidy levels while serving a population with a significant need for rental assistance.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.