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 ZIP code 71138 in Shreveport-Bossier City, Louisiana, stands out due to limited available data regarding its residents, rental percentage, median income, and median home value. This scarcity of information can make it challenging to paint a detailed picture of the area's economic landscape, but it does not diminish the importance of understanding the local housing market dynamics.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 71138 in fiscal year 2024 is set at $1030. This figure represents the maximum amount that the federal government will pay towards rent and utilities for a unit in this area, based on the size of the unit. The FMR is crucial for landlords and small-portfolio investors because it directly impacts the potential rental income they can expect from tenants participating in the Section 8 program. It is important to note that the FMR is higher than the average market rent, which is currently unavailable, indicating a potentially favorable environment for landlords who accept vouchers.
Despite the lack of specific data points such as the number of residents, rental percentage, and median income, the FMR provides a clear benchmark for rental pricing. Landlords should be aware that while the FMR offers a stable income source, it also means that rents above this amount may deter voucher holders from leasing properties in this ZIP code. This could influence decisions on property improvements and rental pricing strategies.
The data signature for ZIP 71138 appears to be transitional, given the absence of key economic indicators. As more comprehensive data becomes available, it will provide a clearer understanding of the ZIP code's economic stability and growth potential. For now, the focus should remain on leveraging the known FMR to guide rental strategies and ensure compliance with Section 8 requirements.
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.