Section 8 Fair Market Rent (FMR) for ZIP 70659 - 2027
Location: Vernon Parish, LA | Metro: Vernon Parish, LA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $720 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$65,640
When considering whether to invest in ZIP code 70659 for Section 8 properties, follow this decision tree based on the provided data:
1) Does FMR $1,050 (metro FY 2026) clear debt service on a property?
- No: If the Fair Market Rent (FMR) of $1,050 does not cover the debt service on the property, investing in ZIP 70659 is not advisable. Debt service must be covered to ensure profitability.
- Yes: If the FMR of $1,050 clears the debt service, proceed to the next question.
2) Is market rent $799 (Census ACS) above, at, or below FMR?
- Below FMR: With market rent at $799, which is below the FMR, you can expect that Section 8 tenants will pay a higher portion of the rent compared to what the market dictates. This makes the area attractive for Section 8 investments as long as other factors align.
- Above FMR: If the market rent were above $1,050, Section 8 would be less viable since the program caps rents at the FMR. However, given the actual market rent is below the FMR, this scenario does not apply here.
- At FMR: If the market rent equaled the FMR, it would suggest a balanced scenario where Section 8 rents match the market. But with market rent lower, Section 8 remains a favorable option.
3) Are 30.4% renters + N/A-day DOM enough demand?
- It depends: The percentage of renters at 30.4% indicates a moderate demand for rental housing. However, without specific Days on Market (DOM) data, assessing the full demand landscape is incomplete. If the DOM is low, it suggests strong demand and quick turnover, making ZIP 70659 a good investment. Conversely, if DOM is high, it points to weaker demand, which could make the investment less attractive.
To conclude, if the FMR of $1,050 covers the debt service and market rent is below this amount, ZIP 70659 becomes a viable option for Section 8 properties. The final decision hinges on the DOM figure, which when known, will clarify the strength of the rental market demand.
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.