Location: Shreveport-Bossier City, LA | Metro: Shreveport-Bossier City, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
The Fair Market Rent (FMR) for ZIP code 71172 in fiscal year 2024 is set at $1240. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay to cover the housing assistance needs of tenants participating in the Section 8 program. It is important to note that this is not the rent you should charge your tenants; it is the payment standard HUD uses to reimburse landlords.
While the local median rent is listed as N/A, the percentage of residents who are renters in this area is also noted as N/A%. This suggests a significant portion of the population relies on rental housing, indicating potential demand for Section 8 properties. However, without specific figures, it's challenging to gauge exactly how competitive the market is for rentals.
The acquisition cost for properties in this ZIP code is reported as N/A. This value would typically help you understand how much you might expect to spend on purchasing a property suitable for Section 8 tenancy. Given the lack of precise data, it is advisable to consult local real estate agents or review recent property sales to get a better sense of pricing.
To proceed confidently with your first Section 8 rental in ZIP 71172, verify that your property meets the minimum standards set by HUD. These standards ensure that the living conditions are safe and decent for tenants. Failure to comply can result in penalties or loss of assistance payments.
In summary, with an FMR of $1240, landlords can expect consistent payments up to this amount from HUD. The demand for rental properties seems strong, but you must confirm local rental rates and property values independently. Lastly, ensuring your property adheres to HUD's quality standards is critical before making any investment decisions.
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.