Section 8 Fair Market Rent (FMR) for ZIP 70668 - 2027

Location: Lake Charles, LA | Metro: Lake Charles, LA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$830
1 Bedroom	$840
2 Bedrooms	$1,100
3 Bedrooms	$1,320
4 Bedrooms	$1,470
5 Bedrooms	$1,705
6 Bedrooms	$1,910
7 Bedrooms	$2,063
8 Bedrooms	$2,166

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,169

Median Household Income

$49,455

Housing Units

2,788

Renter Percentage

25.5%

Occupancy Rate

79.7%

Renter Occupied

567

The ZIP code 70668, located in Ascension Parish, Louisiana, is characterized by its suburban setting with a mix of residential and rural landscapes. The area offers a tranquil living environment with easy access to urban amenities, making it appealing to both homeowners and renters.

Fair Market Rent (FMR): The FMR for a one-bedroom apartment in ZIP 70668 for fiscal year 2024 is set at $960, indicating a stable rental market that supports consistent cash flow for landlords.
Market Rent: According to Census ACS data, the average market rent for the area is $952, which closely aligns with the FMR, suggesting that landlords can price their rentals competitively without sacrificing profitability.
Median Home Value: The median home value in ZIP 70668 stands at $130,456, offering a relatively low barrier to entry for real estate investment compared to more urbanized areas.
Renter Share: With 25.5% of households being renters, there is a significant but not overwhelming demand for rental properties, providing a balanced market for both renting and owning homes.
Days on Market (DOM): The data does not provide a specific day count for DOM, which could suggest either a very quick or a steady pace of sales depending on the broader context of the local real estate market.
Median Income: The median household income in the area is $49,455, which is lower than the national average, but still sufficient to support the current rental prices.

In summary, ZIP 70668 presents a viable opportunity for real estate investors, particularly those interested in rental properties. The alignment between FMR and market rent suggests a healthy and predictable rental market. Additionally, the median home value indicates that property acquisition costs are manageable, while the median income supports the current rental pricing without overextending the financial capacity of residents. Landlords and small-portfolio investors should consider these factors when evaluating potential investments 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.