Location: Tippah County, MS | Metro: Benton County, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 38629 in Tippah County, Mississippi reveals several key points. The HUD Fair Market Rent (FMR) for the area is set at $870 for fiscal year 2026, which is slightly above the market rent of $825 as reported by the Census American Community Survey (ACS).
Voucher tenants will generally cashflow at the FMR rate, though only marginally given the proximity of the FMR to the market rent. This suggests that landlords will need to maintain well-managed properties to ensure that rents remain competitive and stable. In premium units, where the rent is higher due to superior quality or location, the cashflow potential improves significantly.
The median home value in ZIP 38629 is $156,459. To derive the rent-to-price ratio, we divide the median market rent by the median home value. For this area, the annualized rent ($825 x 12) divided by the median home value yields a ratio of approximately 6.3%. This indicates that rental income is relatively low compared to property values, suggesting a stronger potential for appreciation rather than high cashflow.
Note that the median Days on Market (DOM) and the percentage of price cuts are not available, but these metrics would typically be relevant when assessing the balance between renting and buying. Given the limited availability of such data, the primary focus remains on the rent-to-price ratio and the cashflow potential.
The strongest investor angle in ZIP 38629 is likely appreciation, due to the relatively low rent-to-price ratio and the potential for property values to rise over time. This makes it an attractive area for long-term investment strategies focused on asset 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.