Section 8 Fair Market Rent (FMR) for ZIP 71201 - 2027

Location: Monroe, LA | Metro: Monroe, LA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$790
1 Bedroom	$800
2 Bedrooms	$1,030
3 Bedrooms	$1,330
4 Bedrooms	$1,350
5 Bedrooms	$1,566
6 Bedrooms	$1,754
7 Bedrooms	$1,894
8 Bedrooms	$1,989

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

21,782

Median Household Income

$65,446

Housing Units

10,617

Renter Percentage

44.2%

Occupancy Rate

89.2%

Renter Occupied

4,189

Housing Authorities Serving ZIP 71201

Housing Authority of Monroe (Monroe, LA) - 1,560 Section 8 vouchers
Ouachita Parish Police Jury (Monroe, LA) - 557 Section 8 vouchers
West Monroe Housing Authority (West Monroe, LA) - 467 Section 8 vouchers

The ZIP code 71201, located in Monroe, Louisiana, is a residential area with a mix of single-family homes and rental properties. The local economy is supported by various industries including healthcare, education, and retail, which contribute to a stable tenant base. This analysis will provide key metrics that are crucial for landlords and small-portfolio investors looking to invest in the area.

Fair Market Rent (FMR) for a one-bedroom apartment in ZIP 71201 is set at $1020 for fiscal year 2024.
The Zillow Observed Rent Index (ZORI) indicates that the average market rent for a one-bedroom apartment is $1,236.
The median home value in the area stands at $212,222, reflecting the general affordability of housing.
Rental properties account for 44.2% of all occupied housing units, suggesting a strong demand for rentals.
The days on market (DOM) for rental listings is 30 days, indicating a relatively quick turnover rate for available rentals.
The median household income in ZIP 71201 is $65,446, providing insight into the financial capacity of potential tenants.

Investors considering rental properties in ZIP 71201 can expect a competitive market with a slight premium over the government-set FMR. The high percentage of renters and quick DOM suggest steady demand, while the median income supports the ability of tenants to meet the ZORI average rent. Given these factors, investing in rental properties here offers a solid opportunity for consistent returns and occupancy rates.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

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.