Location: Lake Charles, LA | Metro: Lake Charles, LA HUD Metro FMR Area
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 | $840 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $86,194 | 1.28% | A |
| 3BR | $1,320 | $143,862 | 0.92% | C |
U.S. Census Bureau data (2024)
The ZIP code 70601 in Lake Charles, LA, is a renter-heavy area with significant demand for housing assistance through the Section 8 program. With a population of 30,872, nearly 41.1% of residents are renters, indicating a robust market for rental properties. The median household income stands at $49,992, which provides insight into the economic conditions of the area.
The typical market rent in this ZIP code is $1,043, which represents approximately 21% of the median household income. This percentage suggests that rent consumes a considerable portion of local incomes, making it challenging for many tenants to afford housing without assistance. In comparison, the Fair Market Rent (FMR) for the area, set at $970 for FY 2024, is slightly lower than the actual market rent, indicating a potential gap between subsidized rents and market rates.
A landlord in ZIP 70601 should expect tenants who rely heavily on Section 8 vouchers. These tenants will have their rent partially covered by the government, up to the FMR limit, which means landlords might need to adjust their expectations regarding rental income. Given the high percentage of renters and the relatively low median income, there is likely a deep voucher demand in this area. Landlords should be prepared to manage properties with tenants who require housing assistance, ensuring compliance with HUD regulations and maintaining a balance between affordability and profitability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.