Location: Shreveport-Bossier City, LA | Metro: Shreveport-Bossier City, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,000 |
| 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 ZIP code 71032 is situated in a rural area of Louisiana, characterized by a modest population of 2,330 residents. The rental market here is relatively small, with only 19.2% of the population renting their homes, indicating a predominantly owner-occupied community. Despite the low percentage of renters, the median income of $60,972 suggests that the residents have a stable financial standing, which could translate into reliable tenants.
Moving into the economic analysis of renting in ZIP 71032, the Fair Market Rent (FMR) set by HUD for the fiscal year 2024 is $910. This figure contrasts sharply with the actual market rent, which according to Census ACS data, averages at $531. This discrepancy highlights an opportunity for landlords and small-portfolio investors to potentially capitalize on the higher subsidy rates offered by the government compared to the local market conditions.
Given these factors, ZIP 71032 would suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stable tenant base and higher subsidy rates make it an attractive location for passive income generation. On the other hand, value-add buyers could leverage the lower market rents to renovate properties and increase their rental value closer to the FMR, thereby benefiting from both the voucher program and potential appreciation in property values.
In conclusion, the ZIP code 71032 presents a niche market where the combination of a stable local economy and favorable Section 8 subsidy rates creates a compelling investment scenario for both passive and active real estate investors.
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.