Location: Shreveport-Bossier City, LA | Metro: Shreveport-Bossier City, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,340 |
| 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)
8.6% of the population in ZIP code 71029 are renters, indicating a modest but steady demand for rental properties. $47,222 is the median income in this area, which provides insight into the financial capabilities of potential tenants. While the market rent and median home value are not available, the $960 Fair Market Rent (FMR) for zip code 71029 as of fiscal year 2024 serves as a reliable benchmark for setting rental prices. This figure represents the maximum amount that a landlord can charge for a property under the Section 8 program, ensuring that rents are affordable for low-income families. The lack of data on days on market (DOM) and the percentage of price-cut shares suggests that there is limited fluctuation in property pricing, which can be advantageous for maintaining consistent rental income. Given the relatively low renter share, it's important for landlords to consider the broader economic context of the area, where the median income plays a critical role in determining the affordability of housing. In this scenario, landlords should aim to keep their rental properties competitive and well-maintained to attract and retain tenants who qualify for the Section 8 program. Additionally, understanding the local job market and any economic growth indicators can help predict future demand and adjust rental strategies accordingly. With the FMR set at $960, landlords must ensure that their properties meet the quality standards required to participate in the program, as tenants will have the option to choose from a limited pool of available units. For small-portfolio investors, focusing on properties that offer good value and are in compliance with Section 8 requirements can lead to stable long-term investments. The absence of specific market rent data means that landlords should closely monitor local rental trends to stay competitive. Overall, the combination of a moderate renter share and a clearly defined FMR makes ZIP code 71029 a viable market for Section 8 investments.
$960 is the ceiling for rental rates under Section 8 in ZIP 71029, ensuring affordability for low-income families while providing a predictable income source for landlords.
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.