FMR is near market; voucher and private rents are aligned.
1.00
1 BR
1 BR
1.09ratio
FMR$810
Market$740
vs market+$70
FMR is near market; voucher and private rents are aligned.
1.09
2 BR
2 BR
1.17ratio
FMR$980
Market$840
vs market+$140
FMR is above market; underwrite to market rent.
1.17
3 BR
3 BR
1.11ratio
FMR$1,280
Market$1,150
vs market+$130
FMR is above market; underwrite to market rent.
1.11
4 BR
4 BR
1.24ratio
FMR$1,620
Market$1,310
vs market+$310
FMR is above market; underwrite to market rent.
1.24
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 70562 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 70562 (New Iberia, LA) is $980 a month. That is up 7.7% from $910 in FY 2026. New Iberia is in the Iberia Parish, LA non-metropolitan 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 county-wide two-bedroom FMR of $981. Among 12 ZIP codes in Iberia Parish, 70562 is tied for the 4th-highest two-bedroom rent (county range $890–$1,120). The median county two-bedroom FMR in Louisiana is $995, so ZIP 70562 is 2% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 70562
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$680
$730
+7.4%
$657–$803
1BR
$770
$810
+5.2%
$729–$891
2BR
$910
$980
+7.7%
$882–$1,078
3BR
$1,200
$1,280
+6.7%
$1,152–$1,408
4BR
$1,480
$1,620
+9.5%
$1,458–$1,782
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 70562
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$730
$810
$980
$1,280
$1,620
FY 2026
$680
$770
$910
$1,200
$1,480
FY 2025
$710
$730
$920
$1,170
$1,540
FY 2024
$690
$690
$910
$1,170
$1,520
FY 2023
$700
$710
$930
$1,180
$1,450
Two-bedroom rent in nearby Iberia Parish ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 70562?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $981, which applies unless the housing authority uses Small Area FMRs, that basic range is $883 to $1,079 a month; under the ZIP-level Small Area FMR of $980 it would be $882 to $1,078. 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 70562 in?
ZIP 70562 is in the Iberia Parish, LA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $981.
How much did fair market rent change in ZIP 70562 for FY 2027?
The two-bedroom FMR rose 7.7%, from $910 in FY 2026 to $980 in FY 2027. Since FY 2023 it has risen 5.4%.
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