Location: Shreveport-Bossier City, LA | Metro: Shreveport-Bossier City, LA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $970 | $66,193 | 1.47% | A |
| 2BR | $1,100 | $101,482 | 1.08% | B |
| 3BR | $1,450 | $145,430 | 1% | C |
| 4BR | $1,530 | $202,768 | 0.75% | D |
| 5BR | $1,775 | $241,200 | 0.74% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 71104, located in Shreveport, Louisiana, within Caddo Parish County, are straightforward when analyzed with the specific figures available. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2024 is set at $1100. This SAFMR is specifically tailored to the conditions of ZIP 71104, ensuring that it reflects the local rental market accurately.
Comparatively, the local market rent for a two-bedroom unit, as measured by ZORI (Zillow Observed Rental Index), is lower at $947. This difference highlights the premium that Section 8 vouchers can offer over the average market rate. Landlords who participate in the Section 8 program receive a payment from the government to cover the difference between the tenant's contribution and the SAFMR.
A typical tenant in the Section 8 program will contribute 30% of their adjusted income toward rent. If we assume an adjusted monthly income of $1500 for a tenant in this scenario, they would pay $450 towards rent. The remaining amount is covered by the government voucher, which would be $650 in this case to reach the SAFMR of $1100.
In addition to the base rent, there are utility allowances that must be considered. These allowances vary but generally add a few hundred dollars to the total reimbursement. For simplicity, let’s assume a utility allowance of $200 per month. Therefore, the total reimbursement a landlord could expect from the government would be $850 ($650 for rent and $200 for utilities).
This brings us to the reimbursement gap or surplus. In ZIP 71104, the SAFMR is higher than the local market rent. Thus, a landlord participating in the Section 8 program would receive a total reimbursement of $1100, which exceeds the local market rent of $947. This creates a surplus of $153 per month for the landlord. However, it's important to note that this surplus is contingent upon the tenant's actual contribution being less than the SAFMR minus the local market rent. If the tenant's contribution is higher, the surplus would decrease accordingly.
To summarize, in ZIP 71104, landlords who accept Section 8 vouchers will receive a total reimbursement that covers the SAFMR of $1100, including the tenant's portion and utility allowances. Given the local market rent of $947, this typically results in a surplus for the landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.