How many renters live in Folsom, Louisiana?
The City of Folsom has 705 people living in 293 households.
There are 228 renters living in 86 renter households in this City. Renters make up 32.34 percent of the population living in Folsom.
What is the rental market like in Folsom, Louisiana?
There are an estimated 351 housing units in the Folsom area. Of these, 93 units are rental homes, making up 26 percent of the housing market. For every renter household in Folsom, Louisiana, there are 1 rental units.
What is the vacancy rate for rentals in Folsom?
The rental vacancy rate in Folsom is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Folsom for each bedroom size?
Occupied Rental Units by Size in Folsom
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 4 | 67 | 15 | 0 |
Occupied Rental Units by Size in Folsom
A large number of apartments in Folsom have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Folsom are overburdened by housing costs?
Among renter households in this market, 53 percent have housing cost burden. Further, 16 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How many units are rented at Fair Market Rent (FMR) in Folsom?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| One BR | 4 | 100 percent |
| Two BR | 60 | 90 percent |
Rental Units Below FMR in Folsom, Louisiana
How many affordable rental units are in Folsom?
There are a variety of federal affordable housing programs serving households in Folsom, Louisiana including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 12 |
| USDA Section 515 Rural Rental Housing | 12 |
Tracked Units by Federal Program in Folsom, Louisiana
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Folsom, Louisiana
Folsom features 12 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Folsom, Louisiana
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Folsom.
Housing Choice Vouchers in Folsom, Louisiana
On average, Section 8 Housing Choice vouchers pay Folsom landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Folsom.
The maximum amount a voucher would pay on behalf of a low-income tenant in Folsom, Louisiana for a two-bedroom apartment is between $1,226 and $1,498.
Sourced from federal housing data and AffordableHousingOnline.com research.
