Location: Iberville Parish, LA | Metro: Iberville Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The ZIP code 70788 stands out within its county due to a unique combination of demographic and economic factors. With a population of 3,830 residents, it has a significant rental market, where 47.0% of the households rent their homes. The median income for residents in this area is relatively low at $33,079, while the median home value is notably higher at $130,384. This discrepancy highlights a community where homeownership is valued but often out of reach for many residents.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 70788 in fiscal year 2024 is set at $820. This figure represents the maximum amount that the Housing Choice Voucher program will pay landlords for eligible tenants. In contrast, the average market rent based on Census ACS data is $747, indicating that voucher holders can potentially secure housing at a premium compared to typical market rates.
Given these details, the data signature of ZIP 70788 leans towards being "transitional." The high median home value suggests a trend towards appreciation and possibly gentrification, which could affect the rental market dynamics. However, the low median income and reliance on rental vouchers indicate that a portion of the community still faces financial challenges. Landlords and small-portfolio investors should consider these trends when evaluating the potential stability and growth opportunities in this ZIP code.
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.