Location: Shreveport-Bossier City, LA | Metro: Shreveport-Bossier City, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 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 |
The Fair Market Rent (FMR) for ZIP code 71102 in fiscal year 2024 is set at $1030. This figure represents the payment standard for Section 8 housing vouchers, meaning that the government will pay up to $1030 per month toward rent for eligible tenants. However, it's important to note that this does not dictate what you can charge as rent; rather, it limits the amount that the voucher program will cover.
In ZIP 71102, the local median rent is currently listed as N/A, which makes direct comparison challenging. However, the FMR provides a benchmark for what is considered a reasonable rent in the area, based on market conditions. If your property's rent exceeds $1030, the tenant would need to pay the difference out-of-pocket, which could affect their ability to afford living there.
The N/A% of renters in ZIP 71102 indicates the proportion of residents who rely on rental assistance. This percentage suggests a significant demand for affordable housing options. Landlords should be aware that this high demand can translate into fewer vacancies and a more stable occupancy rate, though it also means competition among other landlords for these vouchers.
When acquiring a property in this ZIP code, the average cost is N/A. This figure can help you estimate the potential return on investment when converting the property to a Section 8 rental. It's crucial to factor in the FMR, local median rents, and the percentage of renters needing assistance when setting your own rent price to ensure both competitiveness and profitability.
Before committing to a Section 8 rental, verify that your property meets all the required safety and quality standards set by the Housing Authority. These standards are non-negotiable and must be met for eligibility in the program. Ensuring compliance upfront saves time and prevents unnecessary complications.
Data Sources: FMR data from HUD (2027).
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.