Location: Evangeline Parish, LA | Metro: Evangeline Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The Federal Housing Assistance Programs, commonly known as Section 8, offer a pathway for landlords and small-portfolio investors to enter the rental market in ZIP code 70585. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $900. This figure represents the payment standard, which is the amount that the government will pay towards the rent of eligible tenants under the Section 8 program. It is important to note that this is not the total rent you can charge; it's the maximum subsidy the government will provide.
In comparison, the average rent in ZIP 70585, based on Census American Community Survey (ACS) data, stands at $918. This indicates that the FMR is slightly below the local average, suggesting that landlords might need to adjust their expectations regarding the overall rent they can collect from a tenant participating in the Section 8 program. The difference between the local average and the FMR means that landlords would be responsible for the remainder of the rent if it exceeds the $900 subsidy.
The renter share in ZIP 70585 is 28.9%, meaning nearly 29 out of every 100 households rent their homes. This statistic underscores a significant demand for rental properties, making it a viable market for landlords looking to invest in Section 8 housing. However, the acquisition cost for properties in this area is noted as N/A, which implies there may not be readily available data on typical purchase prices. This could be due to limited transactions or other factors affecting property valuation in the area.
Before proceeding with a Section 8 rental, one critical verification step is essential: ensure your property meets the Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) to guarantee that the units are safe, decent, and sanitary for tenants. Failure to meet these criteria can result in disqualification from the program, so it's crucial to have your property inspected and any necessary repairs completed beforehand.
In summary, ZIP 70585 presents an opportunity for landlords interested in the Section 8 program, with a demand for rentals and a clear understanding of the financial parameters involved. The FMR provides a benchmark for government subsidies, but landlords must account for the possibility of collecting additional rent above the $900 standard. A key action item is to confirm that your property complies with HQS to avoid any issues once you've decided to participate in the 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.