Location: Evangeline Parish, LA | Metro: Alexandria, LA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $900 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,210 | $182,953 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 71433, located within Evangeline Parish, LA, presents a unique set of characteristics when compared to typical ZIP codes in the same area. The Fair Market Rent (FMR) for 71433 is set at $820 for fiscal year 2024, which is higher than the market rent of $709. This suggests that the government's estimate for housing affordability under the Section 8 program exceeds what the local market typically demands.
Additionally, the median home value in 71433 is $139,745, indicating a middle-range property cost within the parish. The renter share in this ZIP code stands at 26.5%, which is notably higher than the average for the region. This high percentage of renters combined with below-average home values can be indicative of an area where Section 8 vouchers are commonly used, making it attractive for landlords and small-portfolio investors seeking stable rental income.
To determine if 71433 is a value pocket, mid-tier neighborhood, or premium sub-market, we must consider the interplay between these figures. Given the higher FMR compared to market rent and the elevated renter share, it can be inferred that 71433 leans towards being a value pocket within the metro. Landlords who own properties here can potentially benefit from the higher FMR rates while maintaining competitive rents, thus attracting tenants who use Section 8 vouchers.
A mid-tier neighborhood would typically have a more balanced ratio between FMR and market rent, and a slightly lower renter share, suggesting a mix of market-rate and subsidized rentals. A premium sub-market would likely exhibit higher home values and possibly a lower renter share, indicating a preference for homeownership and higher-end rentals.
The divergence in 71433, specifically the high renter share with below-average home values, aligns well with the criteria for identifying a Section 8 sweet spot. This means that landlords operating in this ZIP code can expect a steady stream of tenants utilizing Section 8 vouchers, leading to predictable and reliable rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.