Location: Vernon Parish, LA | Metro: Alexandria, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
ZIP 71447, located in Vernon Parish, Louisiana, is a suitable addition to a Section 8 portfolio strategy as a diversifier. The median income in the area is $43,547, indicating a moderate economic environment. With a 6.7% renter share, the market is relatively balanced between homeowners and renters, providing a stable tenant base for Section 8 properties.
The Fair Market Rent (FMR) for a 2-bedroom unit in ZIP 71447 for fiscal year 2024 is $1,156. This figure is slightly above the statewide average of $1,054 for Louisiana, making it a competitive yet manageable location for landlords participating in the Section 8 program. The FMR for 2-bedroom units is $890, which is lower than the actual FMR of $1,156, creating a spread that benefits landlords who can manage their costs effectively.
Vernon Parish is ranked 16th out of 64 counties in Louisiana in terms of FMRs, suggesting it is among the more expensive counties but still within a reasonable range for investment. The parish's FMRs do not require the use of Small Area Fair Market Rents (SAFMRs), giving local housing authorities flexibility in setting payment standards.
The lack of specific appreciation data or days on market (DOM) figures indicates that ZIP 71447 is not an area with high potential for rapid property value growth. However, its stable FMRs and moderate income levels make it a reliable component of a diversified portfolio, ensuring consistent cash flow without the volatility associated with rapidly appreciating markets.
In summary, ZIP 71447 serves as a diversifier within a Section 8 portfolio strategy due to its stable FMRs and moderate economic indicators. Landlords can expect steady returns without the need for speculative investments aimed at rapid appreciation.
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.