Location: Panola County, MS | Metro: Tate County, MS HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $130,932 | 0.86% | C |
| 3BR | $1,390 | $191,453 | 0.73% | D |
| 4BR | $1,490 | $270,721 | 0.55% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 38619, which includes Como, Mississippi, and parts of Panola County, reveals a significant opportunity due to the disparity between the HUD Fair Market Rent (FMR) and the actual market rent. The HUD FMR for the area is set at $900 for fiscal year 2024, while the Census ACS reports the average market rent at $464. This means that voucher tenants will cashflow at FMR levels, providing a substantial financial buffer for landlords.
To further analyze the investment potential, consider the median home value in the area, which stands at $181,001. The rent-to-price ratio can be calculated by dividing the annual rent ($464 * 12 = $5,568) by the median home value. This yields a ratio of approximately 3.07%, indicating that rental income is relatively low compared to property values. However, the high FMR rate ensures that voucher holders can afford to pay significantly more than the market rent, making the investment attractive despite the low ratio.
In terms of the real estate market dynamics, the data shows an N/A-day median Days on Market (DOM) and an N/A% share of properties that have been discounted. These figures suggest that the market is stable, with neither a rapid turnover nor frequent price reductions, which is beneficial for long-term investments.
The strongest angle for investors in ZIP 38619 is cashflow. With the HUD FMR well above the market rent, landlords can expect to see positive cashflow even with standard units, let alone premium ones. This makes the area particularly appealing for those looking to generate steady income through rental properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.