Section 8 Fair Market Rent (FMR) for ZIP 71137 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 71137 (Shreveport-Bossier City County, LA) are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code is set at $1240 for fiscal year 2024. This SAFMR figure represents the maximum amount that a Section 8 housing voucher will cover for rent.

A landlord should understand that the SAFMR is not the total rent a tenant can pay. Instead, it's the combined amount of the tenant's contribution and the voucher subsidy. The tenant's portion of the rent is typically 30% of their adjusted income. If the tenant’s income is $1500 per month, their contribution would be $450 ($1500 x 0.30).

The remaining amount is covered by the Section 8 program, but it cannot exceed the SAFMR. Therefore, if the SAFMR is $1240 and the tenant contributes $450, the voucher would cover $790 of the rent. However, if the SAFMR is less than the sum of the tenant’s contribution and the voucher amount, the voucher would cover only up to $1240.

In addition to the rent, the voucher also includes utility allowances. These vary based on the size of the unit and the location, but for a two-bedroom apartment, the utility allowance is often around $200-$300 per month. This allowance is separate from the rent reimbursement and directly benefits the tenant.

To summarize, if you as a landlord charge $1240 for a two-bedroom apartment, the tenant would contribute $450, and the voucher would cover the remaining $790. If your rent exceeds $1240, the tenant would have to make up the difference out of pocket, which is unlikely given their financial situation.

The typical reimbursement gap or surplus in ZIP 71137 is determined by comparing the SAFMR to the local market rent. Since the local market rent for a two-bedroom is listed as N/A, we can't provide a precise gap or surplus. However, if the local market rent were higher than $1240, there would be a gap between the SAFMR and the actual rent, meaning landlords might receive less than they charge. Conversely, if the local market rent were lower than $1240, landlords could potentially receive more than the average market rate, creating a surplus.

Landlords must ensure that the rental unit meets the Housing Quality Standards (HQS) and that the rent is reasonable compared to similar units in the area. Given the SAFMR of $1240, landlords should price their units accordingly to avoid leaving money on the table or facing unreasonable gaps.

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.