Location: Webster Parish, LA | Metro: Shreveport-Bossier City, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The market in ZIP code 71018 presents a dynamic scenario that can be interpreted through the lens of current figures. The Fair Market Rent (FMR) set at $910 for fiscal year 2024 contrasts with the market rent of $725 as reported by the Census American Community Survey (ACS). This discrepancy suggests a market where actual rental rates are lower than the benchmark set by the government, indicative of a situation where supply might be meeting or slightly exceeding demand.
The data reveals a 25.2% renter share, which is a critical metric for understanding the long-term housing pressures in the area. A higher percentage of renters often correlates with sustained demand for rental properties, as it signals a significant portion of the population relies on renting rather than owning homes. This trend could be driven by various factors including affordability issues, transient populations, or young professionals who prefer renting over buying.
In ZIP 71018, the absence of specific data on price-cut share and days on market (DOM) means we cannot definitively state whether there's an oversupply or undersupply of rental units. However, the fact that market rents are below the FMR could imply that landlords are adjusting their prices to attract tenants in a moderately competitive environment. The lack of median home value data also points to a focus on the rental market rather than the sale market, suggesting that homeownership may not be as prevalent or accessible as renting.
The interplay between these metrics—FMR, market rent, and renter share—paints a picture of a market where rental demand is likely to remain steady. Landlords and small-portfolio investors should take note of the gap between FMR and market rent when setting their own pricing strategies, aiming to balance profitability with tenant acquisition. With 25.2% of the population as renters, there is a continuous need for rental properties, which translates into ongoing opportunities for those invested in the rental sector.
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.