Location: Jefferson Davis Parish, 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 | $910 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,520 | $250,086 | 0.61% | D |
U.S. Census Bureau data (2024)
The ZIP code 70647 stands out in its county with a population of 12,736 residents, where only 11.2% rent their homes. The median income here is relatively high at $71,045, indicating a generally affluent community. However, the median home value of $240,031 suggests that homeownership remains within reach for many, despite the area's prosperity.
Moving into the specifics of Section 8 housing economics, the Fair Market Rent (FMR) for ZIP 70647 for fiscal year 2024 is set at $1,090. This figure is slightly below the market rate of $1,110, as reported by the Census Bureau's American Community Survey (ACS). For landlords and small-portfolio investors, this means that while the voucher amount is close to the market rate, there might be a slight financial gap when considering long-term rental agreements. However, the proximity of these two rates could also indicate a well-calibrated housing assistance program that closely mirrors the local rental market conditions.
Evaluating the overall data signature of ZIP 70647, it appears to be stable. The relatively low percentage of renters and the close alignment between the FMR and market rates suggest a consistent housing environment. This stability can be beneficial for landlords and investors looking for predictability in their rental investments. While the community is prosperous, with a high median income, the median home value indicates a balance where homeownership is still achievable, which can contribute to a steady demand for both rental properties and home purchases.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.