Location: Vernon Parish, LA | Metro: Allen Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The ZIP code 70638 stands out due to its relatively low number of residents at 792, which is significantly smaller than most other ZIP codes. With 24.3% of the population renting, it indicates a moderate demand for rental properties. However, the median income of $37,708 suggests that many residents may rely on financial assistance for housing, such as Section 8 vouchers. The absence of a reported median home value implies either a lack of sufficient data or an unusual housing situation in the area.
In terms of voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,180. This figure is notably higher than the current market rent of $790, as reported by the Census ACS. Landlords and small-portfolio investors should be aware that the gap between these two figures could indicate potential opportunities to raise rents while still being covered by Section 8 vouchers. This discrepancy also highlights the government's effort to ensure that rental prices remain affordable for low-income families in the region.
Given the data signature, ZIP 70638 appears to be in a transitional phase. The low number of residents and the moderate rental rate suggest that the area might be developing or changing. Investors should monitor local economic indicators and demographic trends closely to assess future stability and growth potential. The significant difference between the FMR and market rent figures could signal upcoming changes in the local rental market, influenced by the availability of Section 8 vouchers.
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.