Location: Iberville Parish, 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 Fair Market Rent (FMR) for ZIP code 70757 in fiscal year 2024 is set at $1040. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning that if you participate in the program, the government will pay up to $1040 per month toward rent for eligible tenants.
It's important to note that the FMR does not dictate the rent you charge. Landlords can set their own rents, but they must be reasonable and cannot exceed the FMR. For instance, if your property's market rent is $900, the government would cover the entire amount under the voucher program. If it's higher, say $1200, the tenant would need to pay the difference out-of-pocket.
To put this into perspective, the average rent in ZIP 70757, according to recent Census American Community Survey data, is $784. This suggests that the FMR is above the local average, which could make your property more attractive to potential tenants with vouchers. The fact that 30.7% of residents are renters indicates a strong demand for rental properties in the area, which could translate into fewer vacancies and steadier income streams.
Regarding acquisition costs, the data provided shows this as N/A, which typically means there isn't enough information to calculate a precise figure. However, this doesn't necessarily mean you should avoid investing in this area. Instead, it highlights the importance of doing thorough due diligence on individual property values and costs.
Before deciding to enter the Section 8 market with your first rental property in ZIP 70757, verify that your property meets the necessary inspection standards. These inspections ensure that the living conditions are safe and meet minimum requirements, which is crucial for both compliance and tenant satisfaction.
In summary, the $1040 FMR provides a benchmark for what the government will pay towards rent in ZIP 70757. With an average local rent of $784 and a significant portion of the population renting, there is a solid foundation for demand. Ensure your property is ready for inspection to proceed smoothly with your investment.
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.