Location: Beauregard Parish, LA | Metro: Lake Charles, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
ZIP code 70661, located within Beauregard Parish, LA, presents a unique scenario when compared to typical ZIP codes in the same area. The Fair Market Rent (FMR) for ZIP 70661 is set at $1080 for fiscal year 2024, which is notably higher than the average market rent of $403. This suggests that there might be a significant portion of subsidized housing in the area, particularly through programs like Section 8.
The median home value in ZIP 70661 is listed at $120,302, which is lower than the typical home values found in other ZIP codes within Beauregard Parish. Additionally, the ZIP has a substantial 28.6% renter share, indicating a considerable number of renters. When combined with the lower home values, this high renter share could signal that ZIP 70661 is a prime location for landlords and small-portfolio investors interested in Section 8 properties.
A comparison of the FMR against the market rent shows a significant discrepancy, with the FMR being more than double the market rent. This gap is indicative of a value pocket where properties can be rented out at rates that are favorable to tenants receiving housing assistance, while still offering landlords a reasonable income stream.
The low median home value also suggests that property acquisition costs in ZIP 70661 are relatively affordable compared to other areas in Beauregard Parish. For small-portfolio investors, this could mean an opportunity to purchase properties at a lower cost and potentially receive higher rental income relative to the investment due to the Section 8 program.
In summary, ZIP 70661 stands out as a value pocket within its metro, characterized by a high FMR relative to market rent, a significant renter share, and below-average home values. These factors make it an attractive area for those looking to invest in Section 8 properties, offering both affordability and potential rental income stability.
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.