Location: Allen Parish, LA | Metro: Jefferson Davis Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
When considering whether to invest in ZIP code 70648 for Section 8 properties, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $830 cover the debt service on a property valued at $139,236?
No: The FMR of $830 does not sufficiently cover the debt service on a property priced at $139,236. This makes it unfeasible to acquire such a property for Section 8 purposes.
Yes: Proceed to the next question.
2) How does the market rent of $844 compare to the FMR?
Above FMR: The market rent is slightly above the FMR, indicating that you could potentially command higher rents outside of Section 8. However, the primary focus here is Section 8 viability.
At or Below FMR: Since the market rent of $844 is just above the FMR, there's minimal room for maneuvering beyond Section 8 limits. This makes the area suitable only if the other criteria are met.
3) Is there sufficient demand given 26.9% of residents are renters and the days on market (DOM) is N/A?
It depends: With 26.9% of residents being renters, there is some demand, but it's not overwhelming. The lack of data on DOM suggests either limited sales activity or a need for further investigation into how quickly rental properties are occupied. If you can secure a property at or below the FMR and the local rental market shows strong occupancy rates, then ZIP 70648 could be a viable investment. Otherwise, proceed with caution.
To summarize, investing in ZIP 70648 for Section 8 purposes is only feasible if the FMR covers the debt service. The market rent is close to the FMR, offering little flexibility. Demand is moderate, but more data on DOM would provide better insight into the speed of property turnover in the area.
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.