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 market in ZIP code 71043 presents a dynamic environment for landlords and small-portfolio investors, with several key indicators offering insights into the current state of the rental market. The Fair Market Rent (FMR) for the area stands at $910 for the fiscal year 2024, which is notably higher than the average market rent of $768 as reported by the Census Bureau's American Community Survey (ACS). This suggests that there is a discrepancy between what is considered fair rent by HUD and the actual rents being charged in the market.
The fact that the price-cut share and days on market (DOM) are not available indicates a lack of comprehensive data on the frequency of price reductions and how quickly properties are rented out. However, the median home value being listed as N/A could imply a diverse range of property values within the area, making it difficult to pinpoint an exact figure. Despite these missing details, the overall picture points towards a market where demand may be slightly outpacing supply, driving up the FMR above typical market rates.
A renter share of 14.7% provides additional context. While this percentage might seem low, it signifies a significant portion of the population relies on rental housing. This can indicate a long-term pressure on the rental market, as a substantial number of residents will continue to seek rental properties over purchasing homes. Landlords and investors should consider this as a positive sign for the stability of rental demand in the area.
In summary, ZIP 71043 appears to be a market where demand is strong enough to push FMRs above market rents, suggesting potential for rental income growth. The high proportion of renters also points to sustained demand for rental properties, making it a promising area for investment. However, the absence of certain metrics such as price-cut share and DOM means that caution should be exercised when interpreting the full dynamics of the market.
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.