Location: Avoyelles Parish, LA | Metro: Alexandria, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 71323 is located in a small, rural neighborhood with a total population of just 1,027 residents. The rental market here is modest, with only 20.1% of the population renting their homes, indicating a predominantly owner-occupied community. Unfortunately, specific data regarding the median income and median home value for this area is not available, which suggests that detailed economic analysis might be challenging.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP code 71323 in fiscal year 2024 is set at $1,000. This figure is crucial for Section 8 investors as it dictates the maximum rental amount that can be charged under the housing choice voucher program. However, the lack of available market rent data makes it difficult to compare the FMR with actual local rental rates, which could provide insights into the potential profitability of properties in this area.
Given the limited population and the relatively low percentage of renters, ZIP code 71323 would likely be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The small number of potential tenants means that there is less opportunity for active management and improvement projects to significantly increase occupancy or rental rates. For hands-off operators, the stability provided by the Section 8 program can offer a reliable stream of income without the need for extensive property management activities.
In conclusion, while the specific economic details such as median income and market rent are missing, the Fair Market Rent of $1,000 provides a solid benchmark for Section 8 investments in ZIP code 71323. The characteristics of this rural area suggest that it is better suited for passive investment strategies, ensuring steady returns through the government-backed voucher system.
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.