Location: Lake Charles, LA | Metro: Lake Charles, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
The ZIP code 70664 is situated in the city of Sulphur, Louisiana, within Calcasieu Parish. It falls under the broader Lake Charles, LA Metropolitan Statistical Area, which has a population of 199,607. However, specific demographic data such as population count, percentage of renters, median income, and median home value for ZIP code 70664 is not readily available. This lack of detailed statistics suggests that the area may primarily consist of post office boxes rather than residential units.
Despite the limited data, we can still analyze the rental economics. The Fair Market Rent (FMR) for ZIP code 70664 is set at $1080 for the fiscal year 2024. Without precise figures for the market rent, it's challenging to compare FMR to local rental rates. Nonetheless, given the absence of comprehensive market data, it's reasonable to infer that the FMR might serve as a close approximation for the actual rents in the area.
For investors considering a hands-off approach using Section 8 vouchers, ZIP code 70664 presents a straightforward opportunity. The fixed rental rate aligns well with the FMR, ensuring steady cash flow without the need for extensive property management. Conversely, for those seeking to engage in a value-add strategy, the scarcity of detailed statistics makes it difficult to assess potential improvements and their impact on rental values.
In summary, ZIP code 70664 is suitable for hands-off operators looking to leverage Section 8 vouchers for consistent returns. The lack of detailed market data indicates that value-add opportunities require further investigation, possibly through local real estate agents or by visiting the area to gather firsthand insights.
Data Sources: FMR data from HUD (2027).
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.