Location: Iberville Parish, LA | Metro: Iberville Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
14.9% of residents in ZIP code 70721 are renters, indicating a modest demand for rental properties. However, the $850 Fair Market Rent (FMR) for zip code 70721 for fiscal year 2024 suggests that landlords can set competitive rents without exceeding the affordability threshold for many tenants. The median income of $2,499 per month is an important factor for landlords to consider when setting rental rates, as it reflects the average financial capacity of potential tenants. Given the N/A market rent and median home value, there is limited comparative data to gauge the overall housing market conditions, but the FMR provides a solid benchmark for rental pricing. The N/A-day DOM (days on market) and N/A% price-cut share indicate that there is insufficient data to assess how quickly properties are renting out or if there is a trend of price reductions to attract tenants. Despite these data gaps, the combination of a reasonable renter share and a well-defined FMR makes ZIP 70721 a viable area for Section 8 participation. Landlords can expect steady occupancy and timely rent payments through the Section 8 program, aligning with the financial realities of the area.
Based on the available data, the Section 8 verdict for ZIP code 70721 is positive, as the program supports the local rental market without significant risk to property owners.
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.