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)
The ZIP code 38639 is primarily characterized by a significant proportion of renters, making up 31.2% of the population. Given the total population of 447, this translates to approximately 140 individuals who are likely renting their homes. This indicates that the area has a notable demand for rental properties, particularly those that cater to tenants utilizing Section 8 housing vouchers.
The median household income in this ZIP code stands at $35,313, which provides a benchmark for assessing affordability. The current market rent of $617 represents a substantial portion of the average income, consuming roughly 17.5% of the monthly income when calculated based on the annual median income. This percentage underscores the importance of rental assistance programs like Section 8, which can significantly reduce the financial burden on tenants.
Comparing the market rent to the Fair Market Rent (FMR) of $840, as determined by the U.S. Department of Housing and Urban Development for FY 2026, it's evident that the market rent in ZIP 38639 is below the FMR. This suggests that landlords in this area could potentially increase rents without alienating the majority of their tenant pool, assuming they align with the FMR. However, the presence of a large number of voucher holders means that landlords must also consider the maximum allowable rent under the Section 8 program, which is tied to the FMR.
A landlord operating in ZIP 38639 should anticipate a tenant profile that heavily relies on Section 8 vouchers due to the low median income and the relatively high cost of living compared to income levels. Tenants will likely be seeking affordable housing options and may include families with children, elderly individuals, and those with disabilities who qualify for the voucher program. These tenants will be looking for stability and security in their housing situation, and landlords should prepare to manage properties that meet the standards set by the housing authority while also being mindful of the potential for longer-term leases and lower turnover rates.
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.