FMR is near market; voucher and private rents are aligned.
1.10
2 BR
2 BR
1.23ratio
FMR$1,030
Market$840
vs market+$190
FMR is above market; underwrite to market rent.
1.23
3 BR
3 BR
0.88ratio
FMR$1,330
Market$1,520
vs market-$190
FMR is below market; voucher rent may lag private rents.
0.88
4 BR
4 BR
0.70ratio
FMR$1,350
Market$1,930
vs market-$580
FMR is below market; voucher rent may lag private rents.
0.70
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 71294 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 71294 (West Monroe, LA) is $1,030 a month. That is down 1.0% from $1,040 in FY 2026. West Monroe is in the Monroe, 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 $1,017. Among 21 ZIP codes in Ouachita Parish, 71294 is tied for the 6th-highest two-bedroom rent (county range $930–$1,310). The median county two-bedroom FMR in Louisiana is $995, so ZIP 71294 is 4% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 71294
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$780
$790
+1.3%
$711–$869
1BR
$800
$800
0.0%
$720–$880
2BR
$1,040
$1,030
−1.0%
$927–$1,133
3BR
$1,340
$1,330
−0.7%
$1,197–$1,463
4BR
$1,380
$1,350
−2.2%
$1,215–$1,485
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 71294
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$790
$800
$1,030
$1,330
$1,350
FY 2026
$780
$800
$1,040
$1,340
$1,380
FY 2025
$780
$780
$1,010
$1,300
$1,340
FY 2024
$760
$770
$1,010
$1,260
$1,350
FY 2023
$670
$680
$890
$1,100
$1,200
Two-bedroom rent in nearby Ouachita Parish ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 71294?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,017, which applies unless the housing authority uses Small Area FMRs, that basic range is $915 to $1,119 a month; under the ZIP-level Small Area FMR of $1,030 it would be $927 to $1,133. 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 71294 in?
ZIP 71294 is in the Monroe, LA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,017.
How much did fair market rent change in ZIP 71294 for FY 2027?
The two-bedroom FMR fell 1.0%, from $1,040 in FY 2026 to $1,030 in FY 2027. Since FY 2023 it has risen 15.7%.
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