Section 8 Fair Market Rent (FMR) for ZIP 71038 - 2027

Location: Webster Parish, LA | Metro: Claiborne Parish, LA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$640
1 Bedroom	$790
2 Bedrooms	$890
3 Bedrooms	$1,090
4 Bedrooms	$1,350
5 Bedrooms	$1,566
6 Bedrooms	$1,754
7 Bedrooms	$1,894
8 Bedrooms	$1,989

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,796

Median Household Income

$25,958

Housing Units

1,935

Renter Percentage

36.9%

Occupancy Rate

79.6%

Renter Occupied

569

The potential pitfalls for landlords considering Section 8 investments in ZIP code 71038 are significant. Tenant turnover poses a notable challenge, with the market rent at $441 falling far short of the $830 Fair Market Rent (FMR) for fiscal year 2026 in the metropolitan area. This disparity can lead to higher turnover rates as tenants seek more affordable housing options that still meet their needs. Additionally, the vacancy exposure is heightened due to the lack of available data on the number of days on market (DOM), indicating a possible unpredictability in filling vacancies. Deferred maintenance is another critical issue, especially when the typical home value is unknown but the median income stands at $25,958. This suggests that many residents might struggle to afford substantial home improvements, increasing the likelihood of maintenance issues being deferred.

Tenant Turnover: The market rent at $441 is significantly lower than the $830 FMR, which can result in frequent tenant changes as individuals look for better deals or move to areas where they can find housing closer to the FMR.
Vacancy Exposure: With no data on the average number of days properties remain vacant before being rented, there's an increased risk of extended vacancy periods, which can negatively impact cash flow.
Deferred Maintenance: Given the median income of $25,958, it's likely that residents will prioritize essential expenses over property maintenance, leading to potential wear and tear issues that landlords must address.

However, these risks are tempered by the high renter share in the area, which is 36.9%. High renter density typically translates into a robust demand for rental properties, including those that accept Section 8 vouchers. This demand can help mitigate some of the challenges associated with tenant turnover and vacancy exposure.

Verdict: Moderate risk for a first-time Section 8 landlord.

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.