Location: Coahoma 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)
56.0% of residents in ZIP code 38631 are renters, indicating a strong demand for rental properties in the area. This statistic aligns well with the $446 market rent observed according to Census ACS data, which is significantly lower than the $840 Fair Market Rent (FMR) set for the metro area in fiscal year 2026. The disparity between the market rent and the FMR suggests an opportunity for landlords and small-portfolio investors to offer affordable housing while still maintaining profitability.
$29,583 stands as the median income for this ZIP code, which is below the national average and underscores the need for affordable housing options. While the median home value is listed as N/A, the lack of data on days on market (DOM) and the percentage of price-cut shares indicate a stable market without significant fluctuations or oversupply, providing a secure investment environment.
The $840 FMR can cover a substantial portion of the rental costs in ZIP 38631, making Section 8 vouchers a viable option for tenants. This financial support ensures that landlords receive timely payments and reduces the risk of vacancies. Additionally, the lower market rent of $446 means that even if some tenants require assistance, they can still afford a decent living space.
Given the high renter share and the favorable difference between market rents and the FMR, investing in Section 8 properties in ZIP 38631 appears to be a prudent decision. It allows investors to cater to the local population's needs while benefiting from government-backed rent subsidies.
Verdict: Section 8 properties in ZIP 38631 present a solid investment opportunity with guaranteed rental income and a high demand for affordable housing.
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.