Location: West Carroll Parish, LA | Metro: Richland Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The ZIP code 71237 is situated in a rural setting characterized by a modest population size of 1,028 residents. The area has a significant rental presence, with 31.9% of the households being renters. This indicates a community where a portion of the residents rely on rental properties for their housing needs. The median household income in this region stands at $50,057, which suggests that while the residents are not among the highest earners, they do have a stable income base. The median home value in ZIP 71237 is $101,965, reflecting an affordable housing market.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,090. In contrast, the current market rent, as per the Census ACS, is $925. This gap between the FMR and the market rent highlights a potential opportunity for landlords and small-portfolio investors to capitalize on the government's willingness to pay higher rates through the Section 8 program.
Given these economic conditions, ZIP 71237 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For those preferring a hands-off approach, the discrepancy between the FMR and the market rent means that there is a built-in margin for profit without needing to actively manage property improvements. However, for value-add buyers looking to invest time and resources into property enhancements, the potential exists to increase the rental value closer to the FMR, thereby maximizing returns while still maintaining affordability for tenants.
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.