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 rent math in ZIP code 70761, located in the HUD Metro FMR Area of Baton Rouge, LA, does not favor landlords. The Fair Market Rent (FMR) set at $910 for the fiscal year 2024 is below the current market rent of $980, as per Census ACS data. This discrepancy means that landlords renting properties at the FMR level would be undercharging by $70 per month, which could result in lost revenue.
Regarding acquisition affordability, the data indicates a median home value of N/A, days on the market (DOM) of N/A, and a percentage of homes with price cuts of N/A%. These missing values suggest a lack of recent sales data, making it difficult to assess the current market conditions for property acquisition. Landlords should conduct further research into local real estate trends to make informed decisions about purchasing properties.
Tenant demand in ZIP 70761 is relatively low. With a total population of 732, only 12.5% are renters, indicating that there are approximately 91 potential tenants in the area. Given the small number of renters, competition for tenants may be fierce, and landlords must ensure their properties offer competitive amenities and pricing to attract and retain tenants.
In summary, the rent math in ZIP 70761 is unfavorable due to the lower FMR compared to the market rent. Acquisition costs cannot be accurately assessed without additional data on median home values, DOM, and price-cut shares. Tenant demand is limited, with a small number of renters in the area. Landlords considering investment in this ZIP code should proceed cautiously and focus on offering value-added services or amenities to stand out in a competitive rental market.
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.