The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Otis, LA 71466's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 71466 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $612 to a high of $748, with an average of $680.
One-bedroom: One-bedroom rental prices vary, with a minimum of $684, a maximum of $836, and an average of $760.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $900, peaking at a maximum of $1,100, and averaging at $1,000.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,215, a maximum of $1,485, and an average of $1,350.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,350 to a maximum of $1,650, with an average of $1,500.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Otis, LA 71466 Low Rent (90%) $612 $684 $900 $1,215 $1,350
Average Rent $680 $760 $1,000 $1,350 $1,500
High Rent(110%) $748 $836 $1,100 $1,485 $1,650
2023 Otis, LA 71466 Low Rent (90%) $549 $621 $819 $1,107 $1,188
Average Rent $610 $690 $910 $1,230 $1,320
High Rent (110%) $671 $759 $1,001 $1,353 $1,452
2022 Otis, LA 71466 Low Rent (90%) $540 $639 $819 $1,098 $1,197
Average Rent $600 $710 $910 $1,220 $1,330
High Rent(110%) $660 $781 $1,001 $1,342 $1,463
2021 Otis, LA 71466 Low Rent (90%) $540 $648 $819 $1,089 $1,197
Average Rent $600 $720 $910 $1,210 $1,330
High Rent (110%) $660 $792 $1,001 $1,331 $1,463
2020 Otis, LA 71466 Low Rent (90%) $477 $594 $738 $972 $1,098
Average Rent $530 $660 $820 $1,080 $1,220
High Rent(110%) $583 $726 $902 $1,188 $1,342
2019 Otis, LA 71466 Low Rent (90%) $450 $567 $702 $918 $1,071
Average Rent $500 $630 $780 $1,020 $1,190
High Rent (110%) $550 $693 $858 $1,122 $1,309


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