Section 8 Fair Market Rent (FMR) for ZIP 71164 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 71164, located in Shreveport-Bossier City County, Louisiana, are governed by the Specific Area Fair Market Rent (SAFMR) which sets the rental assistance payment standards for this particular ZIP code. For a two-bedroom apartment, the SAFMR for fiscal year 2024 is $1030. This figure represents the maximum amount that the housing authority will pay towards rent for such units within this ZIP code.

To understand how much a landlord can expect to receive from a Section 8 voucher, it's important to factor in the tenant's portion of the rent and any utility allowances. The tenant is typically required to pay 30% of their adjusted income toward rent. If we assume an average adjusted income for tenants in this area, the tenant's portion might be around $309, making the total rent $1030. However, the exact amount depends on the individual tenant's income. Utility allowances vary but are usually included in the voucher payment. These allowances cover electricity, water, and other utilities, and they can range from $100 to $300 per month, depending on the specifics of the household's needs.

The SAFMR being set at the ZIP level means that the $1030 rate is specifically tailored to reflect the rental market conditions in ZIP code 71164. Unlike broader FMRs that apply uniformly across larger areas, this ZIP-specific rate aims to provide a more accurate representation of the local rental costs.

Given the SAFMR of $1030 for a two-bedroom unit, let's consider the reimbursement scenario. If the market rent for a similar property is higher than $1030, the landlord will face a reimbursement gap. Conversely, if the market rent is lower, the landlord might see a surplus. Since the local market rent data is currently unavailable, we can only calculate based on the SAFMR. Assuming the market rent is indeed $1030, there would be no surplus or gap. However, if the market rent were higher, say $1200, then the landlord would have a reimbursement gap of $170 per month ($1200 - $1030 = $170).

In summary, landlords in ZIP code 71164 should expect the Section 8 voucher to cover up to $1030 of the monthly rent for a two-bedroom apartment. The tenant will contribute 30% of their adjusted income, and utility allowances will be added to the voucher payment. Without precise local market rent data, it's difficult to specify the exact reimbursement gap or surplus, but it's clear that if market rents exceed $1030, landlords will need to make up the difference.

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.