Location: Baton Rouge, LA | Metro: Baton Rouge, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
The market in ZIP 70884, located in Louisiana, is characterized by significant uncertainty due to the lack of comprehensive data. The Fair Market Rent (FMR) for the area, as set by HUD for fiscal year 2024, stands at $1280. This figure is crucial for landlords and small-portfolio investors as it reflects the maximum amount that can be charged for a unit under the Section 8 program.
However, the absence of current market rent data suggests a less active or less documented rental market. This could imply either a stable market with little fluctuation, or an area that is under-reported, making it challenging to gauge the true dynamics between supply and demand. Similarly, the lack of percentage data on price-cut share and days on market (DOM) indicate that there might not be enough transactions or listings to provide a clear picture of how quickly properties are being rented or if landlords are frequently lowering their prices to attract tenants.
The median home value being listed as N/A further complicates the analysis, pointing to a lack of available data on property values. This could be indicative of a market with limited sales activity, which might suggest lower liquidity or a more niche investment environment.
The N/A% renter share is a critical piece of missing information. In markets with a high percentage of renters, there is often greater long-term housing pressure, as rental demand tends to be more consistent and less affected by economic downturns compared to homeownership. Conversely, a low renter share might suggest a more transient population, which can lead to higher turnover rates and potentially more volatile rental income. Without this data, it's difficult to assess the long-term stability and pressure on the rental market in ZIP 70884.
In summary, ZIP 70884 presents a market with limited visibility into its current state, making it hard to definitively conclude whether supply outpaces demand or vice versa. The available data point to a constrained rental market, with implications for both pricing strategies and tenant retention, but the full extent of these dynamics remains unclear without additional metrics.
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.