Location: Monroe, LA | Metro: Monroe, LA HUD Metro FMR Area
| 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 |
The analysis of ZIP code 71240 reveals several key points regarding its viability for Section 8 real estate investment.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1010. However, due to the lack of available market rent data, it's impossible to make a direct comparison. Landlords should be aware that the actual market conditions might affect their ability to attract tenants willing to pay the FMR rate.
Regarding the affordability of acquisitions, the absence of specific data on median home values, days on market (DOM), and the percentage of homes requiring price cuts makes it difficult to provide a precise assessment. Investors must rely on broader regional trends and consult local real estate agents for insights into property pricing and market dynamics.
Tenant demand can also be evaluated through demographic data. Unfortunately, the necessary specifics on population size and the percentage of residents who are renters are not provided here. Without these figures, determining the potential pool of Section 8 eligible tenants remains speculative.
In conclusion, while the FMR provides a benchmark for rental income, the lack of detailed market data for ZIP 71240 poses significant challenges for would-be Section 8 investors. The decision to invest should be based on thorough local research, including market rent surveys, recent real estate transaction analyses, and direct consultation with local housing authorities to gauge tenant demand accurately. Proceed with caution, as the success of such investments hinges on a clear understanding of the local real estate and rental markets.
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.