Location: Monroe, LA | Metro: Morehouse Parish, LA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,230 |
| 5 Bedrooms | $1,427 |
| 6 Bedrooms | $1,598 |
| 7 Bedrooms | $1,726 |
| 8 Bedrooms | $1,812 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,190 | $156,345 | 0.76% | D |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 71229 reveals several potential challenges for landlords considering Section 8 participation. Tenant turnover is a significant issue, with the market rent at $290 being substantially lower than the Fair Market Rent (FMR) of $930 for FY 2024. This disparity can lead to higher turnover rates as tenants seek more affordable housing options. Additionally, vacancy exposure is a concern due to the lack of data on Days on Market (DOM), which indicates an unpredictable rental market. Deferred maintenance is another risk factor, particularly when considering the typical home value of $152,368 and the median income of $83,125. The lower median income suggests that homeowners might struggle to keep up with necessary repairs, potentially affecting property values and desirability.
However, these risks are offset by the high renter share of 9.1%. High renter density typically correlates with increased demand for housing vouchers, making it easier for landlords to find and retain tenants through the Section 8 program. Despite the challenges, the presence of a substantial number of renters in the area ensures a steady pool of potential voucher holders who are likely to be interested in affordable housing options.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.