Location: Concordia Parish, LA | Metro: Concordia Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
In ZIP code 71373, there are several risks that first-time Section 8 landlords should be aware of. Firstly, tenant turnover could pose a significant challenge. The market rent stands at $1,003, while the Fair Market Rent (FMR) for fiscal year 2026 in the metro area is $1,040. This gap suggests that landlords might face difficulties retaining tenants who are accustomed to the higher FMR rates, leading to increased turnover.
Vacancy exposure is another concern. With the days on market (DOM) being listed as N/A, it's unclear how long properties typically remain vacant before finding a tenant. This lack of data makes it difficult to predict potential vacancy periods and the financial impact they could have on rental income.
The deferred-maintenance exposure is also noteworthy. Given the typical home value of $123,949 and the median income of $45,690, landlords may find themselves dealing with properties that require substantial maintenance but where tenants have limited resources to contribute to such costs. This situation can lead to higher out-of-pocket expenses for landlords.
However, these risks must be weighed against the high renter share in the area, which is 28.6%. High renter density generally translates into higher demand for rental housing, including those who rely on Section 8 vouchers. This demand can provide a stable stream of tenants, mitigating some of the risks associated with turnover and vacancy.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.