Location: Richland Parish, LA | Metro: Richland Parish, LA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,110 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
58958 In ZIP code 71259, the median income stands at $58,958, providing insight into the financial capacity of potential tenants.
191 In this area, 19.1% of residents are renters, indicating a significant demand for rental properties among the local population.
752 The market rent, according to Census ACS data, is $752, which reflects the average cost tenants are willing to pay for housing.
1000 The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,000, offering a benchmark for rental pricing that aligns with HUD guidelines.
N/A Despite the lack of data on the median home value and days on market (DOM), the significant difference between the market rent and the FMR suggests an opportunity for landlords to position their rents competitively while still adhering to Section 8 standards.
N/A The absence of information regarding the percentage of homes that have been price-cut indicates that there may be less volatility in the housing market compared to other areas, potentially offering stability for long-term investments.
Given the financial metrics available for ZIP code 71259, landlords and small-portfolio investors can leverage the gap between the current market rent and the HUD-set FMR to attract Section 8 tenants without compromising on profitability. With a median income of $58,958, the majority of residents are likely to qualify for Section 8 assistance, making it a viable option for property owners seeking stable, government-backed rental income. The 19.1% renter share underscores the ongoing need for affordable housing options, further supporting the attractiveness of Section 8 participation in this market. However, the lack of data on median home values and DOM does limit the ability to assess broader market trends and the potential impact on property values and vacancy rates. For those focused solely on rental income, these considerations may be secondary to the guaranteed payment structure provided by the Section 8 program.
Verdict: ZIP 71259 is a suitable market for Section 8 investment due to the alignment of HUD FMRs with local incomes and the high renter share.
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.