Location: Baton Rouge, LA | Metro: Baton Rouge, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
The ZIP code 70728 in Louisiana is a challenging area to profile accurately due to the lack of specific population and income data. However, we can still make some informed observations based on the available information.
In terms of rental versus homeownership prevalence, the absence of data on the percentage of renters suggests that this area might not have a clearly defined trend towards either renting or owning homes. Without precise figures, it's difficult to determine if there is a high concentration of Section 8 tenants or if vouchers are scarce.
Regarding the connection between income levels and market rents, the median household income being listed as N/A makes it impossible to calculate the exact percentage of income that goes towards rent. Nevertheless, if we assume that the typical market rent aligns closely with the Fair Market Rent (FMR), which is set at $1390 for FY 2024, then landlords can expect that their tenants' incomes will be roughly equivalent to this figure.
The FMR serves as a benchmark for housing affordability. In ZIP 70728, with an FMR of $1390, landlords should anticipate that the majority of their tenants will be individuals or families who rely heavily on government assistance such as Section 8 vouchers to meet their housing needs. This means that the rental market is likely to be sensitive to changes in voucher policies and funding.
Given the reliance on vouchers, landlords in 70728 should prepare for a tenant pool that includes a significant number of low-income individuals and families. These tenants will require properties that meet HUD standards and are willing to undergo the necessary background checks and income verifications mandated by the program. Landlords must also be ready to work with local Public Housing Agencies (PHAs) to manage the lease process and ensure compliance with Section 8 regulations.
To summarize, ZIP 70728 appears to be an area with a potentially high demand for affordable rentals, particularly those supported by Section 8 vouchers. The lack of detailed economic data makes it hard to provide a precise picture, but landlords should expect to cater to a tenant base that depends on government assistance for housing. Rental properties priced around the FMR of $1390 will likely attract the most interest from this demographic.
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.