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 analysis of ZIP code 71161 in the Shreveport-Bossier City, LA MSA metro area reveals several key points that are essential for landlords and small-portfolio investors.
First, let's address whether the rent math works. The Fair Market Rent (FMR) for ZIP 71161 in fiscal year 2024 is set at $1030. However, without specific market rent data, it's challenging to make a direct comparison. Landlords should ensure their rental rates align closely with the FMR to attract Section 8 tenants.
Regarding the affordability of acquisitions, the lack of precise data on median home values, days on market (DOM), and the percentage of homes requiring price cuts complicates a straightforward assessment. Investors should proceed with caution, relying on broader regional trends and local real estate agents for more detailed insights.
Finally, we must consider tenant demand. Without specific population and renter share percentages, it's difficult to quantify the number of potential renters. Nevertheless, the presence of Section 8 vouchers indicates a need for affordable housing, which can be a stable source of tenants.
Verdict: ZIP 71161 presents an opportunity for landlords and small-portfolio investors interested in Section 8 properties. Setting rents at $1030 aligns with the FMR, which is crucial for attracting tenants. However, the limited data on home values, DOM, and price-cut shares necessitates thorough due diligence. Investors should consult local real estate professionals and gather more granular data before making any purchase decisions. Despite these uncertainties, the demand for affordable housing suggests a viable market for those willing to invest carefully.
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.