Section 8 Fair Market Rent (FMR) for ZIP 70874 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 70874, located in Louisiana, represents a niche market for real estate investment, particularly in the context of Section 8 housing. This area is characterized by a blend of rural and suburban living, offering potential for both rental properties and homeownership opportunities.

• Fair Market Rent (FMR) for ZIP 70874 in fiscal year 2024: The FMR for a two-bedroom apartment is set at $1280, providing a benchmark for rental pricing that aligns with federal guidelines for affordable housing.
• Market Rent: Current market rent data is not available, which suggests either limited activity or a less competitive market compared to urban centers. However, the absence of such data does not necessarily indicate low demand.
• Median Home Value: Data on the median home value is also unavailable, indicating a possible lack of comprehensive sales data or a predominantly rental-focused market.
• Renter Share: The percentage of renters in the area is not documented, making it difficult to assess the proportion of residents who rely on rental properties.
• Days on Market (DOM): Information regarding the average days a property remains on the market before being sold is not provided, which could be indicative of a stable market where properties are typically held for longer periods.
• Median Income: The median household income figure is missing, but this detail is crucial for understanding the economic base of the community and the potential affordability of housing.

Despite the limitations in available data, the Fair Market Rent provides a clear starting point for setting competitive rental rates for Section 8 properties. The lack of specific market rent and median home value data suggests that the area may have a smaller pool of active transactions, which can be advantageous for investors looking to secure long-term tenants without frequent price adjustments. The unknown percentage of renters and median income highlights the need for further research to fully gauge the local economic conditions and tenant demand. For landlords and small-portfolio investors, focusing on maintaining properties that meet or exceed the FMR standards will ensure compliance and attractiveness to potential tenants, positioning them well within this niche market.

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.