Location: Quitman County, MS | Metro: Tunica 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 | $890 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,280 | $133,612 | 0.96% | C |
U.S. Census Bureau data (2024)
The $1190 Fair Market Rent (FMR) for ZIP 38621 in fiscal year 2024 contrasts sharply with the market rent of $853. This suggests a potential for higher rental yields compared to typical market rates. Additionally, the median home value of $113,079 indicates that this area is relatively affordable, which could further enhance the yield potential for investors.
In terms of stability, the renter population makes up 35.2% of the total population. While this figure alone does not provide a complete picture, it does indicate a significant portion of residents who are likely to be reliant on rental properties. The median household income in ZIP 38621 is $36,685, which might influence the stability of rental payments. A lower income level can sometimes correlate with higher risk of default, though this is not definitive without additional context such as unemployment rates and economic indicators.
The absence of data regarding the average days on market (DOM) for rental listings in ZIP 38621 limits our ability to assess the speed at which properties are leased. This metric is crucial for understanding the liquidity of the rental market and can impact the overall stability of cash flow for landlords.
Given the higher FMR relative to the market rent and the median home value, ZIP 38621 leans towards being a high-yield market. However, the stability is somewhat ambiguous due to limited data on DOM and other economic factors. Therefore, it is best classified as a market with a balance between high yield and moderate stability, potentially offering opportunities for steady cash flow but requiring careful tenant selection to mitigate risks.
To summarize, ZIP 38621 presents itself as a market where the potential for high rental yields exists, driven by the disparity between the FMR and market rent. However, the stability is less clear, necessitating a cautious approach to ensure sustainable cash flow. Landlords and small-portfolio investors should consider these factors when deciding whether to invest in this ZIP code.
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.