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 70744 stands out within its county due to several key demographic and economic factors. With a population of 6,070 residents, it has a relatively low rental rate of 11.1%, indicating that most homeowners own their properties outright or through mortgages. The median income in ZIP 70744 is $61,375, which is modest compared to the median home value of $239,172, suggesting a significant gap between income levels and housing costs.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 70744 in fiscal year 2024 is set at $1,230, while the market rent based on Census ACS data is $1,072. This means that landlords participating in the Section 8 program can expect higher rents compared to the local market average, providing an incentive to accept vouchers despite the administrative complexities.
The data signature for ZIP 70744 indicates a stable environment. The modest rental rate suggests a preference for homeownership among residents, which can lead to lower vacancy rates and more stable tenancies. Additionally, the higher FMR relative to market rents provides a financial cushion for landlords who might otherwise be hesitant to participate in the Section 8 program.
To summarize, ZIP 70744 offers landlords a stable investment opportunity with a slight premium for accepting Section 8 vouchers. The economics favor participation in the program, especially when considering the broader context of ownership and income levels within the 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.