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Claiborne Parish/Homer/71040

71040

ZIPSAFMR
Claiborne Parish, LA
Zillow

ZIP Investment Score

109Above average

095130300
BRFMR
Eff. Rent
0 BR$650$650
1 BR$800$800
2 BR$900$900
3 BR$1,100$1,100
4 BR$1,370$1,370
5 BR$1,575Not available
6 BR$1,812Not available
7 BR$2,084Not available
8 BR$2,396Not available

Purchase Price Calculator

Maximum purchase price
$71,823

Cost breakdown

+Likely effective rent$900
HUD FMRUsed$900
Market rentN/A
Est. payment standardN/A
-Principal and interest-$363
Loan amount$57,459
Down payment$14,365
Rate6.50%
Term30 years
-Operating costs-$337
Property taxes-$72
Insurance-$175
Utilities$0
HOA$0
Management-$90
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$14,781(102.9% ROI)
Projected value
$77,346
Return breakdown
Property appreciation+$5,523
Loan principal paid down+$2,059
Rental cash flow+$7,200
5-year hold
+$25,109(174.8% ROI)
Projected value
$81,261
Return breakdown
Property appreciation+$9,438
Loan principal paid down+$3,671
Rental cash flow+$12,000
10-year hold
+$52,864(368.0% ROI)
Projected value
$91,940
Return breakdown
Property appreciation+$20,117
Loan principal paid down+$8,747
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 71040 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 71040 (Homer, LA) is $900 a month. That is up 5.9% from $850 in FY 2026. Homer is in the Claiborne 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 $892. Among 11 ZIP codes in Claiborne Parish, 71040 is tied for the 7th-highest two-bedroom rent (county range $890–$990). The median county two-bedroom FMR in Louisiana is $995, so ZIP 71040 is 10% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 71040
BedroomsFY 2027Change90–110% range
Studio$650+6.6%$585–$715
1BR$800+11.1%$720–$880
2BR$900+5.9%$810–$990
3BR$1,100+7.8%$990–$1,210
4BR$1,370+7.9%$1,233–$1,507

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 71040
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$650$800$900$1,100$1,370
FY 2026$610$720$850$1,020$1,270
FY 2025$670$760$910$1,100$1,330
FY 2024area FMR$615$626$822$994$1,192
FY 2023area FMR$564$567$747$909$1,086

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Claiborne Parish ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 71040
71001$940+4.4%
71003$990+10.0%
71028$890−1.1%
71038$890−1.1%
71040Current$900—
71048$9000.0%
71055$990+10.0%
71079$890−1.1%
71222$930+3.3%
71235$930+3.3%
71256$930+3.3%

Questions about ZIP 71040 rents

How much will Section 8 pay for a two-bedroom in ZIP 71040?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $892, which applies unless the housing authority uses Small Area FMRs, that basic range is $803 to $981 a month; under the ZIP-level Small Area FMR of $900 it would be $810 to $990. 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 71040 in?

ZIP 71040 is in the Claiborne Parish, LA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $892.

How much did fair market rent change in ZIP 71040 for FY 2027?

The two-bedroom FMR rose 5.9%, from $850 in FY 2026 to $900 in FY 2027. Since FY 2025 it has fallen 1.1%.

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

County fair market rentHomer, LA fair market rentLA statewide rentsWhat is SAFMR?Data sources