Location: Allen Parish, LA | Metro: Allen Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $900 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 70655 presents a dynamic rental market with strong signals indicating that demand may be outpacing supply. This inference is drawn from the comparison between the Fair Market Rent (FMR) set at $930 for the metro area in fiscal year 2026 and the current market rent of $448 based on Census ACS data. The significant gap suggests that rents could rise towards the FMR level, reflecting an environment where landlords might have pricing power due to high tenant interest.
The median home value of $90,573 indicates a relatively affordable residential market, which could attract both buyers and renters. However, the lack of specific data on price-cut shares and days on market (DOM) means we cannot definitively quantify the exact balance between supply and demand. Instead, we focus on the 28.2% renter share as a key indicator of long-term housing pressure. A higher proportion of renters implies ongoing challenges for homeownership, possibly due to economic constraints or preferences, leading to sustained rental demand.
In such a market, landlords can expect steady occupancy rates and potential upward pressure on rents as tenants compete for limited housing options. Small-portfolio investors should consider the affordability of homes in the area and the possibility that some would-be homeowners might turn to renting, thereby increasing the competition for rental properties. The dynamics suggest a robust rental market with opportunities for landlords and investors who understand the local economic conditions and can offer competitive, well-maintained units.
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.