Location: Winn Parish, LA | Metro: Natchitoches Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 71031 is situated in a rural area of Louisiana, characterized by a modest population size of 803 residents. With only 15.1% of the residents being renters, it's evident that homeownership is the predominant form of residence in this region. The median household income stands at $50,718, reflecting a community where most individuals have stable financial situations, though not particularly high incomes.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $930. However, the actual market rent as reported by the Census Bureau’s American Community Survey (ACS) is significantly higher at $1,352. This discrepancy suggests that there is a notable premium for rentals in this area, which could be attributed to the scarcity of rental properties or other local factors driving up demand.
Given these conditions, ZIP 71031 might not be an ideal location for a hands-off Section 8 voucher operator. The relatively low percentage of renters and the disparity between FMR and market rent indicate that there could be challenges in finding tenants who qualify for the Section 8 program. On the other hand, this environment presents opportunities for a hands-on value-add buyer. By focusing on improving property quality and ensuring compliance with Section 8 requirements, such an investor could attract tenants willing to pay the FMR while still benefiting from the higher market rents available in the area.
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.