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 Fair Market Rent (FMR) for ZIP code 38644, set at $840 for the fiscal year 2026, is a critical figure for landlords and small-portfolio investors considering a Section 8 rental property. This amount represents the payment standard set by HUD for the area, meaning that the maximum rent a Section 8 tenant can be charged will not exceed $840 per month. It's important to note that this does not directly translate to your monthly rent income, as it is adjusted based on the size of the unit and other factors.
While the local median rent for the area is listed as N/A, the fact that 55.8% of residents are renters indicates a strong demand for rental properties. This high percentage suggests that there are many potential tenants who might be interested in your property, particularly those seeking affordable housing options through Section 8.
The acquisition cost of properties in ZIP 38644 is also listed as N/A, which makes it challenging to provide specific guidance on purchase prices. However, given the high renter share, it's likely that the market for rental properties is competitive, and you should expect to pay a premium for properties that are well-suited for Section 8 tenants. This includes properties that meet the necessary safety and quality standards required by the program.
Before proceeding with a Section 8 rental property in ZIP 38644, you must verify that your property meets all the eligibility criteria set by HUD. These criteria include the physical condition of the property and compliance with health and safety standards. Failure to meet these requirements can result in disqualification from the program, so ensuring your property is up to code is essential.
In summary, the FMR of $840 provides a benchmark for the maximum rent you can charge under the Section 8 program. With a significant portion of the population renting, there is a good chance of finding qualified tenants. However, ensure your property complies with all HUD regulations to avoid any issues that could prevent you from participating in the program.
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.