Location: Quitman County, MS | Metro: Coahoma County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 38617 presents a nuanced scenario for both landlords and small-portfolio investors. The median home value is currently not available, indicating a potential lack of comprehensive data on recent sales and appraisals. This absence of definitive home value data can suggest either a stable market where values haven't significantly fluctuated, or an under-reported area that might require deeper investigation.
Additionally, the percentage of listings that have been reduced and the median days on market (DOM) are also not specified. However, if we consider that a higher percentage of reduced listings alongside longer DOM periods generally points to a buyer's market, it would imply that sellers in 38617 may need to be flexible with their pricing to attract buyers. This setup suggests that landlords and investors could have some leverage when negotiating property purchases, potentially leading to more favorable deals over the next 12-24 months.
On the rental side, the Fair Market Rent (FMR) for ZIP 38617 is projected at $840 for the fiscal year 2026, while the current market rent is reported at $270 according to the Census ACS. This significant gap between the FMR and the actual market rent signals a strong opportunity for long-term investors. As rental rates are expected to rise towards the FMR level, those who invest now could see substantial increases in their rental income as the market adjusts to meet the projected fair market rates.
For long-hold investors, the setup implies a realistic appreciation thesis based on the expected rise in rental rates aligning with the FMR. While direct predictions cannot be made, the trend towards higher rents suggests that properties could appreciate in value as they become more sought-after and valued based on their rental potential. This makes 38617 a promising area for those looking to capitalize on future rental price adjustments and subsequent property value growth.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.