Location: Panola County, MS | Metro: Panola County, MS
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 | $690 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $143,906 | 0.69% | D |
| 3BR | $1,250 | $201,892 | 0.62% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 38620, which includes Courtland, MS, is set at $910 for the fiscal year 2026. This figure represents the maximum amount that a landlord can receive from the government under the Section 8 program for renting a unit to a qualified tenant. It's important to note that this is not the rent you would charge your tenants directly; it's the reimbursement limit from the housing authority.
In comparison, the average market rent for ZIP 38620 is $938, according to the latest Census American Community Survey (ACS) data. This indicates that the FMR is slightly below the actual market rent, meaning that landlords participating in Section 8 might see a slight decrease in income compared to market rates.
However, the demand for rental properties in this area is strong, with 15.8% of the population being renters. This high percentage suggests a significant portion of the community relies on rental housing, making it a viable option for those considering their first Section 8 rental property.
The median home value in ZIP 38620 is approximately $197,116. This figure reflects the typical price range for acquiring a property in this area. Given the FMR and the percentage of renters, it's reasonable to expect a steady stream of potential tenants who qualify for the Section 8 program.
Before proceeding with a Section 8 rental property, it's crucial to verify that the property meets all the required standards for habitability and safety as set by the local housing authority. This includes ensuring that the property is free from health and safety hazards, and that it complies with all local codes and regulations.
In summary, while the FMR of $910 might be slightly lower than the average market rent of $938, the high renter share of 15.8% and the median home value of $197,116 make ZIP 38620 a promising location for your first Section 8 rental investment. Just ensure your property meets the necessary standards to avoid any complications once you've signed up for the program.
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.