Location: Webster Parish, 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 economics of Section 8 in ZIP code 71075 are defined by the SAFMR (Small Area Fair Market Rent) rates established by HUD (Department of Housing and Urban Development). For a two-bedroom apartment in ZIP 71075, the SAFMR for fiscal year 2024 is set at $910. This figure represents the maximum amount that a Section 8 voucher can cover for rent in this specific ZIP code.
In contrast, the local market rent for a two-bedroom unit in ZIP 71075 is reported at $767 according to the latest Census ACS (American Community Survey) data. This lower market rent suggests that landlords might have to consider the difference between the market rate and the SAFMR when setting their rental prices to attract Section 8 tenants.
A Section 8 voucher covers most of the tenant's rent, but there are several components to understand fully. The tenant is responsible for paying approximately 30% of their income towards rent. The remaining amount, up to the SAFMR of $910, is covered by the government. Additionally, there are utility allowances that vary based on the size of the apartment and location. For a two-bedroom unit in ZIP 71075, the utility allowance is typically around $300.
To illustrate, if a landlord sets the rent at $910, the government will pay the difference between the tenant's contribution and the total rent, plus the utility allowance. If the tenant's share is $273 (assuming an income level where 30% equals this amount), then the government would reimburse the landlord $637 ($910 - $273) for the rent and an additional $300 for utilities, totaling $937.
However, if the landlord sets the rent below the SAFMR, say at $767, the government would still only reimburse up to $910 minus the tenant's contribution. In this scenario, if the tenant's share remains $273, the government would cover $694 ($767 - $273) for the rent and the same utility allowance of $300, totaling $994. But since the rent is $767, the landlord would receive the full $767 for rent and the utility allowance, totaling $1,067.
This means that landlords in ZIP 71075 should aim to set their rents close to the SAFMR of $910 to maximize their reimbursement while ensuring they remain competitive in the local market. Setting the rent at exactly $910 ensures that the landlord receives the full SAFMR amount without leaving money on the table due to the utility allowance.
Given these parameters, the typical reimbursement gap or surplus for a two-bedroom unit in ZIP 71075 is a surplus of $87, assuming the local market rent of $767 and a tenant contribution of $273. This surplus arises because the utility allowance exceeds the difference between the SAFMR and the market rent, providing landlords with a slightly higher income than the local market rate.
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.