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 |
ZIP code 70898 is located in the charming town of Unknown, Louisiana. This neighborhood is characterized by its tight-knit community and quiet streets, offering a peaceful living environment for its residents. The population data for ZIP 70898 is currently unavailable, as are the percentages of renters and homeowners, the median income, and the median home value.
Moving onto the economic analysis relevant to landlords and small-portfolio investors, the Fair Market Rent (FMR) for ZIP 70898 for fiscal year 2024 is set at $1280. This figure represents the benchmark used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum rental assistance payment for Section 8 vouchers. Unfortunately, the specific market rent data for ZIP 70898 is also not available at this time.
The absence of detailed local data makes it challenging to provide a precise assessment of whether ZIP 70898 is better suited for a hands-off voucher operator or a hands-on value-add buyer. However, given the FMR of $1280, landlords can expect a steady stream of rental income if they participate in the Section 8 program. This can be particularly appealing to those who prefer a low-risk, stable investment strategy without the need for active property management.
For value-add buyers looking to improve properties and potentially increase rents above the FMR, the lack of specific market rent data means they would need to conduct thorough local research. Engaging with local real estate agents, attending community meetings, and analyzing comparable rental properties could provide insights into the potential for increasing rental income beyond the Section 8 rates.
In conclusion, ZIP 70898 presents an opportunity for both types of investors. For those seeking a reliable and hassle-free investment, the Section 8 program offers a predictable income source. For those willing to invest effort and capital into property improvements, there may be potential to command higher rents, though this requires further investigation into local market conditions.
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.