Location: Winn Parish, LA | Metro: Caldwell Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
In ZIP code 71465, the median income stands at $42,366, while the market rate for rent is $442 per month according to the Census ACS data. This indicates a challenging financial landscape for renters, as their median income barely covers the cost of housing. To put this into perspective, the monthly Fair Market Rent (FMR) set by HUD for metro areas in fiscal year 2026 is $840, which is significantly higher than the current market rate.
The disparity between the median income and the FMR highlights an affordability gap that could impact landlord competition. With only 19.6% of the 3,086 residents being renters, the pool of potential tenants is relatively small. Landlords should consider that many households may struggle to meet the FMR standards without assistance, making them more likely to seek out affordable housing options or rely on rental subsidies.
Given these conditions, landlords must carefully weigh their strategies regarding voucher acceptance versus cash-paying tenants. Accepting vouchers can provide a steady stream of income, albeit at a lower rate than market rents. However, it ensures occupancy and stability, which are crucial in a market where the majority of residents cannot afford the FMR without assistance. On the other hand, focusing on cash-paying tenants might yield higher monthly returns but comes with the risk of vacancy in a tight rental market where incomes do not easily support higher rents.
Takeaway: For landlords in ZIP 71465, embracing a strategy that includes accepting Section 8 vouchers can be beneficial in maintaining consistent occupancy and reducing vacancy risks. While the income may be less than market rates, the stability provided by voucher programs can outweigh the potential drawbacks in a competitive and economically constrained rental environment.
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.