FMR is near market; voucher and private rents are aligned.
0.91
1 BR
1 BR
1.02ratio
FMR$990
Market$970
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.02
2 BR
2 BR
0.82ratio
FMR$1,110
Market$1,360
vs market-$250
FMR is below market; voucher rent may lag private rents.
0.82
3 BR
3 BR
0.89ratio
FMR$1,400
Market$1,580
vs market-$180
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR
0.88ratio
FMR$1,630
Market$1,850
vs market-$220
FMR is below market; voucher rent may lag private rents.
0.88
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 70504 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 70504 (Lafayette, LA) is $1,110 a month. That is up 7.8% from $1,030 in FY 2026. Lafayette is in the Lafayette, LA HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,092. Among 22 ZIP codes in Lafayette Parish, 70504 is tied for the 7th-highest two-bedroom rent (county range $920–$1,350). The median county two-bedroom FMR in Louisiana is $995, so ZIP 70504 is 12% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 70504
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$790
$850
+7.6%
$765–$935
1BR
$910
$990
+8.8%
$891–$1,089
2BR
$1,030
$1,110
+7.8%
$999–$1,221
3BR
$1,320
$1,400
+6.1%
$1,260–$1,540
4BR
$1,600
$1,630
+1.9%
$1,467–$1,793
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 70504
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$850
$990
$1,110
$1,400
$1,630
FY 2026
$790
$910
$1,030
$1,320
$1,600
FY 2025
$750
$950
$1,070
$1,340
$1,770
FY 2024
$710
$940
$1,050
$1,360
$1,780
FY 2023
$670
$890
$1,000
$1,310
$1,700
Two-bedroom rent in nearby Lafayette Parish ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 70504?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,092, which applies unless the housing authority uses Small Area FMRs, that basic range is $983 to $1,201 a month; under the ZIP-level Small Area FMR of $1,110 it would be $999 to $1,221. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 70504 in?
ZIP 70504 is in the Lafayette, LA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,092.
How much did fair market rent change in ZIP 70504 for FY 2027?
The two-bedroom FMR rose 7.8%, from $1,030 in FY 2026 to $1,110 in FY 2027. Since FY 2023 it has risen 11.0%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set