Location: Winn Parish, LA | Metro: Alexandria, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The ZIP code 71432 is primarily characterized by a modest population size of 768 residents. Among these residents, 20.8% are renters, indicating that while it is not overwhelmingly dominated by rental properties, there is still a notable segment of the population relying on rentals. The median household income stands at $38,125, which is crucial when evaluating the potential demand for Section 8 vouchers.
A typical market rent of $935 is observed in this area. This amount represents approximately 24.5% of the median household income, calculated by dividing the market rent by the median income and multiplying by 100. Given the Federal Market Rent (FMR) for the fiscal year 2024 is set at $990, the current market rent is slightly below this benchmark, suggesting a reasonable alignment between the local rental market and federal standards.
In terms of voucher availability and demand, the percentage of renters indicates a moderate need for subsidized housing options. However, the income levels suggest that many residents may be eligible for and seeking out Section 8 vouchers. Landlords in ZIP 71432 should anticipate a tenant pool that includes individuals and families who rely on government assistance to meet their housing needs.
The kind of tenant profile expected here includes those who are likely to be sensitive to rental costs due to their income levels. They will be looking for affordable housing options that do not exceed a significant portion of their monthly income. With the average rent consuming nearly a quarter of the median income, landlords should prepare for tenants who are meticulous about budgeting and may require financial assistance to cover their housing expenses.
To conclude, ZIP 71432 is a market where Section 8 vouchers play a pivotal role in enabling access to housing for a substantial portion of the renting population. The income levels and market rents indicate that landlords should be prepared to accommodate tenants who are reliant on vouchers, ensuring that their units are priced competitively and within the federally determined limits.
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.