Location: Baton Rouge, LA | Metro: Baton Rouge, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
The ZIP code 70782 is a renter-heavy area with a significant portion of residents relying on rental housing. With 24.4% of the population being renters, there is a notable demand for rental properties, particularly those that cater to Section 8 tenants. The median household income in this ZIP code is $39,531, which suggests that many residents have limited financial resources.
To understand the depth of voucher demand, compare the local market rent to the Federal Market Rent (FMR). While the exact figure for the market rent is not provided, we can use the FMR of $1170 as a benchmark for the fiscal year 2024. Given the median income, typical rents would consume a substantial portion of the local residents' earnings. For instance, if we assume the average rent aligns closely with the FMR, then the monthly rent would represent approximately 30% of the median household's annual income. This indicates that many residents rely heavily on housing vouchers to afford living costs.
The tenant profile a landlord should expect in ZIP 70782 includes individuals and families who are likely to be low-income earners and may depend on Section 8 vouchers to cover their rent. Landlords must be prepared to work within the guidelines set by the housing choice voucher program, which can include rent limits and inspections. Despite the challenges, the high percentage of renters and the alignment of the FMR with the local income levels suggest that there is a strong potential for occupancy and stability in the rental market.
Given these conditions, landlords in ZIP 70782 should focus on maintaining properties that meet the standards required by the Section 8 program. This will ensure compliance and make the property attractive to voucher holders. Additionally, understanding the local demographics and the economic situation will help landlords set competitive rents and manage expectations regarding maintenance and turnover rates.
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.