Location: Lake Charles, LA | Metro: Lake Charles, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The ZIP code 70609, located in St. Bernard Parish, Louisiana, stands out due to its limited population size of only 357 residents. Despite the lack of specific data regarding the percentage of renters, median income, and median home value, the Federal Market Rent (FMR) for the area provides a critical insight into the housing dynamics. For fiscal year 2024, the FMR for ZIP 70609 is set at $1080. This figure serves as the benchmark for determining the rent subsidy amount that landlords can receive through the Section 8 Housing Choice Voucher program.
In the context of voucher economics, the FMR plays a pivotal role. Landlords participating in the Section 8 program will receive a monthly payment from the housing authority to cover the difference between the tenant's contribution and the FMR. With an FMR of $1080, landlords should ensure their rental units are priced appropriately to maximize participation benefits. The absence of current market rent data for the area means that the FMR could be a significant indicator of the local rental market price, guiding both landlords and tenants on expected rental costs.
The data signature for ZIP 70609 suggests a stable environment. Given the small population and the reliance on FMR data, it's reasonable to infer that there might not be substantial fluctuations in rental demand or pricing. However, stability in such a small community also implies that changes in the local economy or housing conditions could quickly alter the dynamics. Therefore, while currently stable, the ZIP code could transition rapidly based on external factors affecting the region.
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.