Location: Franklin Parish, LA | Metro: Franklin Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 71219 in the fiscal year 2026 is set at $930. This figure represents the payment standard for Section 8 housing vouchers in the area, meaning that if a landlord participates in the program, they will receive up to $930 per month from the government to cover part of the tenant's rent. It's important to note that this is not the amount you can charge for rent; it's the maximum reimbursement you'll receive through the voucher program.
Comparing this to the local median rent, which is currently listed as N/A, we don't have direct data to show how $930 stacks up against typical market rates. However, given the 14.2% share of renters in the area, there is a significant demand for affordable housing options. This suggests that the FMR could be a reasonable benchmark for setting your own rent prices, especially if you're targeting tenants who rely on Section 8 vouchers.
When it comes to acquiring a property in ZIP 71219, the average price is also listed as N/A. Without specific numbers, it's difficult to provide an exact comparison between the FMR and potential property costs. Nonetheless, participating in the Section 8 program can offer stability in rental income, which is crucial for any investment strategy.
To ensure the success of your first Section 8 rental, you must verify that your property meets all the necessary requirements for the program. This includes passing a Housing Quality Standards (HQS) inspection, which checks for basic safety and habitability conditions. Make sure your property complies with these standards before you proceed, as failing this inspection can delay or prevent your participation in the program.
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.