Location: Baton Rouge, LA | Metro: Baton Rouge, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 70715 is not predominantly a renter-heavy area; only 7.2% of the population are renters, indicating a relatively low demand for rental properties compared to areas with higher percentages of renters. With a total population of 802, the number of potential Section 8 tenants is limited. The median household income stands at $50,050, which is a critical figure when considering the affordability of housing.
The average market rent in this area is $616 per month. This amount represents approximately 14.7% of the median household income, calculated as ($616 / $50,050) * 12 months. This percentage suggests that rent is a significant portion of the monthly budget for many residents, especially those relying on Section 8 vouchers.
The Fair Market Rent (FMR) for ZIP 70715, as determined by HUD for FY 2024, is set at $1,150. This means that the actual market rent of $616 is below the FMR, indicating that landlords in this area can potentially receive a subsidy that brings their total rent closer to the FMR level. However, it also implies that there might be fewer Section 8 vouchers available due to the lower overall demand for rentals.
A landlord in ZIP 70715 should expect tenants who are likely to be dependent on government assistance such as Section 8 vouchers to manage their housing costs. These tenants will have a household income around the median of $50,050, and they will need to ensure that their rent does not exceed the voucher limits. Given the FMR and the current market rent, landlords can benefit from the voucher program while keeping rents affordable for low-income households.
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.