Location: Allen Parish, LA | Metro: Allen Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The ZIP code 70658 is located in a neighborhood characterized by a relatively small population of 914 residents, with only 18.3% being renters. This indicates that it is primarily a homeowner-centric area. The median household income stands at $65,759, suggesting a middle-class community where residents have a stable financial base but are not necessarily high-income earners. Despite the lack of specific data on median home values, the income figure provides a good indication of the economic status of the residents.
When it comes to rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $830. However, the current market rent, according to Census ACS data, is lower at $649. This discrepancy between the FMR and the actual market rent presents an opportunity for landlords and small-portfolio investors who can capitalize on the higher subsidy levels offered by the government through the Section 8 program. Landlords can charge the FMR rate while still attracting tenants eligible for the voucher program, thereby increasing their rental income.
Given these conditions, ZIP 70658 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For those preferring a hands-off approach, the stability of the Section 8 program ensures consistent tenant occupancy and predictable rental income. On the other hand, value-add buyers can leverage the gap between FMR and market rent to improve properties and increase rents, thereby enhancing their investment returns. The low percentage of renters suggests that there is room for growth in the rental market, making it a viable option for investors looking to enter or expand in this 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.