Location: Red River Parish, 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 | $840 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $139,200 | 0.76% | D |
| 3BR | $1,400 | $233,034 | 0.6% | D |
| 4BR | $1,470 | $402,522 | 0.37% | F |
| 5BR | $1,705 | $524,046 | 0.33% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 71115, located in Bossier City, LA, within the Red River Parish, LA metro area, reveals several key insights for landlords and small-portfolio investors.
The rent math does not work favorably for Section 8 tenants. The Fair Market Rent (FMR) set at $1,150 for fiscal year 2024 is notably lower than the market rent, which stands at $1,420 according to ZORI. This gap means that landlords would receive less income per unit if they participate in the Section 8 program compared to renting out properties at market rates.
Acquisition of properties in this ZIP code is relatively affordable. With a median home value of $244,262, purchasing homes here remains within reach for many investors. However, the lack of data on days on market (DOM) and the low price-cut share of 0.2% indicate that the market might be stable, with few distressed sales offering deep discounts. This suggests that while property acquisition is feasible, finding deeply discounted homes could be challenging.
Tenant demand is strong in ZIP 71115. The area has a population of 14,413, with 38.3% of residents being renters. This high renter share ensures a consistent pool of potential tenants, particularly those eligible for Section 8 assistance, making it likely that vacancies will be minimal.
In conclusion, while the rent math does not favor participation in the Section 8 program due to the significant difference between the FMR and market rents, the affordability of property acquisition and robust tenant demand present a balanced opportunity. Investors should weigh the benefits of steady occupancy against the lower rental income before deciding to enter this market. The stability of the housing market and the high proportion of renters suggest that landlords can expect a reliable stream of tenants, even if the financial returns are modest compared to market-rate rentals.
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.