Location: St. Landry 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 ZIP code 70586, located in Ville Platte, St. Landry Parish, Louisiana, presents an opportunity for a diversified Section 8 portfolio. With a median home value of $99,551, the area offers affordable properties that can be rented out through the Section 8 program.
The Fair Market Rent (FMR) for the 70586 metro area is set at $900 for FY 2026, while the market rent is estimated at $713. This creates a positive spread of $187 per unit, making 70586 a viable option for cash flow generation. However, given the 34.6% renter share and median income of $40,129, it's clear that this area is not just about cash flow but also about appreciation potential.
The low price-cut share of 0.2% indicates that properties in this area are selling close to their asking price, which is a sign of stability in the market. Additionally, the median income figure suggests that there is a steady demand for affordable housing, which aligns well with the Section 8 program.
Given these factors, 70586 should be considered a diversifier in a Section 8 portfolio. It provides both cash flow and potential for property appreciation due to the stable market conditions and the significant portion of renters who rely on government assistance to afford housing. Landlords and small-portfolio investors can leverage this ZIP code to balance their investment strategies, ensuring a mix of income-generating assets and those with long-term appreciation potential.
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.