Location: Vernon Parish, LA | Metro: Alexandria, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The ZIP code 70656 stands out in its county with a population of 4,015 residents, where only 6.0% rent their homes. The median income in this area is $61,693, and the median home value is significantly higher at $127,479. This combination of low rental rates and high home values suggests a community that primarily owns property rather than leasing.
Turning to the economics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 70656 in fiscal year 2024 is set at $1160. In stark contrast, the actual market rent, according to Census ACS data, is only $523. This gap highlights a significant opportunity for landlords who can leverage the higher FMR rate to increase their rental income. The disparity between the FMR and the market rent also indicates that there could be a substantial number of rental units in this ZIP code that are underpriced relative to the government's standards, potentially attracting tenants seeking affordable housing options through Section 8 vouchers.
The data signature for ZIP 70656 reads as stable. With a relatively low percentage of renters and a high median home value, the community appears to be one where homeownership is the norm. The steady income levels and the gap between FMR and market rents suggest a consistent demand for rental properties among those eligible for Section 8 assistance, making it a reliable market for landlords and small-portfolio investors looking to enter or expand their presence in this ZIP code.
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.