Section 8 Fair Market Rent (FMR) for ZIP 71358 - 2027
Location: St. Landry Parish, LA | Metro: St. Landry Parish, LA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $660 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$44,243
To determine if a landlord should invest in ZIP code 71358 for Section 8 properties, follow these steps:
- Does the Fair Market Rent (FMR) of $850 cover the debt service on a property?
- If the property's debt service is less than or equal to $850, then the answer is Yes. The FMR is sufficient to meet the financial obligations of owning the property.
- If the debt service exceeds $850, then the answer is No. The landlord would not be able to cover the costs with the current FMR alone.
- Is the market rent of $854 (from Census ACS) above, at, or below the FMR?
- If the market rent is above the FMR ($854), then landlords can potentially earn more than the FMR by renting to non-Section 8 tenants. This suggests a Yes to investing, as there is room for profit beyond the subsidized rates.
- If the market rent is at the FMR, then landlords will likely need to rely on the FMR for their rental income. This scenario requires a closer look at the first question regarding debt service coverage.
- If the market rent were below the FMR, which is not the case here, it would suggest that the area is not profitable for non-subsidized rentals. However, since the market rent is higher, this point does not apply.
- Are 31.2% of residents renters, and do they create enough demand given the days on market (DOM)?
- The percentage of renters at 31.2% indicates a moderate rental market presence. If the DOM is low, meaning properties are rented quickly, this signals strong demand. Without a specific DOM figure, we must rely on the rental rate percentage.
- In the absence of DOM data, the 31.2% of renters suggests It Depends. Landlords must consider other factors such as the local job market, population growth, and competition in the rental sector to gauge overall demand.
Based on the provided data, if the debt service is covered by the FMR and market rents are higher, the investment appears viable. However, the strength of demand requires additional context beyond the available figures.
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.