Location: Lake Charles, LA | Metro: Lake Charles, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
The analysis of ZIP code 70606 in Lake Charles, Louisiana, reveals several key points that are crucial for landlords and small-portfolio investors.
The rent math does not work in this area. The Fair Market Rent (FMR) for a one-bedroom apartment in ZIP 70606 for fiscal year 2024 is set at $1080. However, the lack of available market rent data suggests that the actual rental prices might be lower, making it difficult to cover costs and maintain profitability solely based on the FMR.
Regarding property acquisition, the area presents challenges due to insufficient data. The median home value is listed as N/A, indicating a lack of comprehensive information about housing affordability. Additionally, the days on market (DOM) and the percentage of homes requiring price cuts before sale are also unavailable, which means there's no clear indication of how quickly properties sell or whether they require significant discounts to attract buyers.
Tenant demand in ZIP 70606 is questionable. The population data and the percentage of renters are both marked as N/A, suggesting incomplete information about the local demographic and housing situation. Without accurate figures, it's impossible to gauge the potential for finding tenants who can afford the FMR.
Verdict: ZIP 70606 in Lake Charles, Louisiana, poses significant risks for investment due to the absence of critical data points. The established FMR of $1080 cannot be effectively utilized without knowing the actual market rent levels. Moreover, the lack of detailed information on median home values, days on market, and the percentage of price cuts makes it difficult to assess the affordability and speed of acquiring properties. Lastly, the incomplete data on population and renter share complicates understanding tenant demand. Until these data gaps are filled, investment in this ZIP code is not advisable for those seeking clear, actionable insights.
Data Sources: FMR data from HUD (2027).
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.