Location: St. James Parish, LA | Metro: St. James Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
The ZIP code 70792, located within the St. James Parish, LA HUD Metro FMR Area, has a Fair Market Rent (FMR) of $940 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors interested in the area's rental market dynamics.
Compared to typical ZIP codes within the St. James Parish, LA HUD Metro FMR Area, where specific data on market rents, home values, and renter shares are often unavailable, 70792 stands out for its defined FMR. The lack of market rent and home value data suggests that this ZIP code might be less developed or have fewer housing units compared to other areas, making direct comparisons challenging. However, the presence of an FMR indicates it is a recognized area for federal housing assistance programs.
Given the absence of comparative market rent and home value data, we cannot definitively classify 70792 as a value pocket, mid-tier neighborhood, or premium sub-market. But, the defined FMR of $940 can be seen as a stable benchmark for landlords considering the investment in federally assisted rental properties.
The unknown percentage of renter share in 70792 also prevents us from identifying it as a potential Section 8 sweet spot based on high renter concentration. However, the combination of a specified FMR and the lack of other key metrics suggests that this ZIP code could be an under-the-radar opportunity for investors who are focused on Section 8 tenants. It's important to note that without additional market rent and home value data, it's difficult to assess the overall economic profile of the area.
To make a more informed decision, landlords and investors should seek out local real estate agents or community organizations that might provide insights into the local housing market not captured in the broader HUD data set. This will help in understanding the true potential and challenges of investing in ZIP code 70792.
Data Sources: FMR data from HUD (2027).
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.