Location: Winn Parish, LA | Metro: Winn Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The median income in ZIP code 71473 stands at $40,956. Given the lack of specific market rate rental data for this area, it's challenging to provide an exact figure on whether a household can afford typical rents. However, comparing the voucher payment standard to the median income offers valuable insights.
The Fair Market Rent (FMR) for ZIP 71473, set at $860 for the fiscal year 2026, represents the voucher payment standard. This amount is designed to ensure that low-income households can afford decent housing without spending more than 30% of their income on rent. For a household earning the median income, this translates to a maximum affordable rent of approximately $1,023 per month, calculated based on the 30% rule. Therefore, the voucher payment standard is well below the median household's ability to pay, indicating that renters with vouchers might find it difficult to cover market rates without additional financial support.
The ZIP code has a relatively low percentage of renters at 9.7%, with a total population of 573. This suggests a smaller pool of potential tenants, which could lead to increased competition among landlords for both voucher recipients and those paying out-of-pocket. Landlords must consider the balance between accepting voucher payments, which are guaranteed but capped at $860, and pursuing cash-paying tenants who might offer higher monthly rents.
Takeaway: Landlords in ZIP 71473 should be prepared to offer competitive pricing to attract tenants. While the guaranteed nature of voucher payments can be appealing, the cap at $860 means that landlords will need to adjust their expectations if they wish to secure tenants through this program. Alternatively, focusing on attracting cash-paying tenants who can afford closer to the median household's budget could result in higher monthly revenues, though it would require a strategy to stand out in a niche market where fewer people are looking for rentals.
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.