Location: Caldwell Parish, LA | Metro: Caldwell Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $680 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 71415 in the metro area for fiscal year 2026 is set at $830. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount that the government will pay landlords for eligible tenants. However, this does not dictate the rent you can charge; it simply limits the reimbursement from the voucher program.
In comparison, the average rent for the same area, according to the Census American Community Survey, is $771. This indicates that the FMR slightly exceeds the typical rent, which could be advantageous for landlords participating in the Section 8 program.
The rental market in ZIP 71415 has a strong tenant base, with 40.1% of residents being renters. This high percentage suggests a robust demand for rental properties, making it a viable option for those considering their first Section 8 rental. The significant portion of renters in the area implies that there is a consistent pool of potential tenants who might rely on Section 8 vouchers.
Regarding the acquisition cost of rental properties in this ZIP code, the data is currently unavailable, marked as 'N/A'. This means that while you can expect a steady stream of tenants, you'll need to research the local real estate market to determine if the property values align with your investment goals.
Before committing to a Section 8 rental property, verify that the property meets the Housing Quality Standards (HQS). These standards ensure that the unit is safe, decent, and sanitary for tenants. While these requirements might seem stringent, they are essential for compliance and maintaining a positive relationship with your tenants.
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.