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)
To determine if you should invest in ZIP 71047 (Keithville, LA) for Section 8 properties, follow this decision tree based on the specific data points provided.
1) Does the Fair Market Rent (FMR) of $970 cover the debt service on a property valued at $215,792?
No: The FMR of $970 does not sufficiently cover the debt service on a property priced at $215,792. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. Given that FMR is lower than what would be required to break even on these expenses, purchasing in this area is not advisable unless you can significantly reduce your cost basis or find other income sources.
Yes: If your debt service is less than $970 per month, then the FMR covers your costs. Proceed to the next question.
2) How does the market rent of $1,012 compare to the FMR?
Market rent is above FMR: At $1,012, the market rent exceeds the FMR of $970, indicating that there is potential for higher rental income outside of Section 8. However, this also suggests that Section 8 tenants may struggle to afford market rates, reducing the pool of eligible tenants.
Market rent is equal to or below FMR: Since the market rent of $1,012 is slightly above the FMR, this scenario does not apply directly. But if it were below, it would mean that Section 8 tenants could potentially afford market rents, increasing demand for your property.
3) Are 12.8% of residents renters and is the days on market (DOM) sufficient?
It depends: With 12.8% of residents being renters and the DOM being listed as N/A, the demand for rental properties in Keithville, LA, is somewhat limited but not necessarily prohibitive. A low percentage of renters might indicate a smaller pool of potential tenants, but the lack of DOM data means we cannot assess how quickly properties are rented out once they become available.
In conclusion, investing in ZIP 71047 for Section 8 properties is only viable if your debt service is below $970 per month. Even then, the slight premium of market rent over FMR and the limited rental population suggest that demand will be tight. Consider the local economy and job market before making a final decision.
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.