Location: Vernon Parish, LA | Metro: Vernon Parish, LA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
The market in ZIP code 71475 is currently defined by the Fair Market Rent (FMR) set at $1,050 for the fiscal year 2026, which reflects the rental rates deemed sufficient to cover the cost of typical housing in the area. The absence of recent market rent data suggests a lack of current activity or reporting, but the established FMR can be seen as a benchmark for landlords and investors.
A notable gap exists in the available data, particularly regarding the percentage of homes sold with price cuts and the days on market (DOM) for properties. This scarcity indicates that either the market is relatively stable, with few transactions requiring adjustments, or there is insufficient transactional volume to provide meaningful insights into pricing dynamics. Similarly, the median home value is not specified, making it difficult to assess the overall health and attractiveness of the housing stock for potential buyers.
The unknown percentage of the population that identifies as renters poses a challenge when evaluating long-term housing pressures. Typically, a higher renter share can signal persistent demand pressures, especially if coupled with limited supply. Conversely, a lower renter share might suggest a more owner-occupied market, which could indicate different dynamics in terms of housing stability and investment opportunities. However, without this figure, we cannot definitively characterize the balance between supply and demand.
In summary, while the Fair Market Rent provides a crucial reference point for the rental market, the incomplete dataset for ZIP 71475 makes it challenging to fully understand the interplay between supply and demand. Landlords and small-portfolio investors should closely monitor any updates to these metrics to make informed decisions about their investments.
Data Sources: FMR data from HUD (2027).
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.