Location: St. Landry Parish, LA | Metro: Evangeline Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $630 |
| 1 Bedroom | $680 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,090 |
| 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 investment landscape for Section 8 properties in ZIP code 70589 presents several challenges that landlords must be aware of. First, tenant turnover is a significant concern. With a market rent of $633 versus a Fair Market Rent (FMR) of $830 for the metro area in fiscal year 2026, landlords may face difficulties in attracting tenants who qualify for Section 8 vouchers, leading to higher turnover rates. This discrepancy between market rent and FMR suggests that the local rental market is below the federally set standard, which can impact the stability of tenant populations.
Vacancy exposure is another critical issue. The data shows that the days on market (DOM) is not available, indicating a lack of historical trends to predict how long it might take to fill vacancies. Given the lower market rent compared to FMR, there's potential for extended vacancy periods if tenants find better options elsewhere. This risk is compounded by the deferred maintenance exposure, considering the typical home value of $148,306 and a median income of $49,650. Landlords should prepare for the possibility of needing to invest in property improvements to meet Section 8 standards, especially if the property has been neglected.
Despite these risks, the high renter share of 20.1% in ZIP 70589 provides a silver lining. A larger proportion of renters often translates into greater demand for housing assistance programs such as Section 8. This demand can help mitigate some of the financial risks associated with tenant turnover and vacancy rates, ensuring a steady stream of qualified applicants.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 70589 is moderate.
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.