What HUD offices serve New Iberia, Louisiana?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Louisiana Public Housing and Low-Income Apartments Waiting Lists page for openings near New Iberia.
How many renters live in New Iberia, Louisiana?
The City of New Iberia has 28,363 people living in 11,201 households.
There are 13,498 renters living in 5,486 renter households in this City. Renters make up 47.59 percent of the population living in New Iberia.
What is the rental market like in New Iberia, Louisiana?
There are an estimated 13,362 housing units in the New Iberia area. Of these, 6,310 units are rental homes, making up 47 percent of the housing market. For every renter household in New Iberia, Louisiana, there are 1 rental units.
What is the vacancy rate for rentals in New Iberia?
The rental vacancy rate in New Iberia is 12 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 New Iberia for each bedroom size?
Occupied Rental Units by Size in New Iberia
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 191 | 1,062 | 2,583 | 1,315 | 273 |
Occupied Rental Units by Size in New Iberia
A large number of apartments in New Iberia 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 New Iberia are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 25 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 Much Is Rent in New Iberia
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $685 to $1,510. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $685 |
| One BR | $690 |
| Two BR | $906 |
| Three BR | $1,167 |
| Four BR | $1,510 |
2024 Fair Market Rents in New Iberia, Louisiana
How many units are rented at Fair Market Rent (FMR) in New Iberia?
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 |
| Studio | 122 | 64 percent |
| One BR | 684 | 64 percent |
| Two BR | 1,475 | 57 percent |
Rental Units Below FMR in New Iberia, Louisiana
How many affordable rental units are in New Iberia?
There are a variety of federal affordable housing programs serving households in New Iberia, Louisiana including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 380 |
| Public Housing | 200 |
| Section 8 Project-Based Rental Assistance | 337 |
| Section 202 Supportive Housing for the Elderly | 45 |
| Section 811 Supportive Housing for Persons with Disabilities | 86 |
Tracked Units by Federal Program in New Iberia, Louisiana
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in New Iberia, Louisiana
New Iberia features 738 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 New Iberia, Louisiana
There are 408 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Iberia.
Housing Choice Vouchers in New Iberia, Louisiana
On average, Section 8 Housing Choice vouchers pay New Iberia landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in New Iberia.
The maximum amount a voucher would pay on behalf of a low-income tenant in New Iberia, Louisiana for a two-bedroom apartment is between $815 and $997.
Sourced from federal housing data and AffordableHousingOnline.com research.
