Location: Sabine Parish, LA | Metro: Shreveport-Bossier City, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 71419 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $910 per month for FY 2024. This figure is specific to this ZIP code, meaning it reflects the rental rates deemed fair for this particular area.
Comparatively, the local market rent for a two-bedroom unit in ZIP 71419 is recorded at $760 per month, based on recent Census ACS (American Community Survey) data. This indicates that the SAFMR is higher than the actual market rent, which could be beneficial for landlords participating in the program.
A Section 8 voucher works by covering the difference between the tenant's contribution and the SAFMR. Typically, tenants are required to pay 30% of their adjusted income towards rent. In ZIP 71419, if we assume an average adjusted income for a tenant, the monthly contribution would be calculated as follows:
Let's say a tenant has an adjusted income of $1,000 per month. They would contribute 30%, or $300, towards the rent. The remaining amount, up to the SAFMR of $910, would be covered by the housing authority. However, the housing authority does not pay the full $910 directly to the landlord. Instead, they reimburse the landlord for the difference between the tenant's contribution and the SAFMR, minus any utility allowances.
Utility allowances vary but are typically around $200 for a two-bedroom apartment. Therefore, the housing authority would pay the landlord $610 ($910 - $300) plus the utility allowance of $200, totaling $810.
This reimbursement rate of $810 is higher than the local market rent of $760, creating a surplus for landlords. Thus, the typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 71419 is a positive $50 per month. This means landlords can expect to receive slightly more than they might otherwise charge for a similar property on the open market.
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.