Location: Quitman County, MS | Metro: Panola County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 38646, located in Quitman County, Mississippi, reveals key insights for landlords and small-portfolio investors.
The rent math does not favorably align. The Fair Market Rent (FMR) for the area is set at $900 for fiscal year 2026, while the actual market rent, as per Census ACS data, stands at $799. This discrepancy suggests that landlords may need to adjust their expectations downward to remain competitive in the local rental market.
Regarding property acquisition, the data presents challenges. The median home value is listed as N/A, which indicates a lack of sufficient sales data to establish an average. Additionally, the days on market (DOM) and the percentage of homes that have been subject to price reductions are also marked as N/A, making it difficult to assess the affordability and liquidity of the housing market for potential acquisitions.
Tenant demand is relatively low given the small population size of 2,687 residents. However, 28.2% of the population are renters, indicating a niche but steady demand for rental properties. Despite the low overall numbers, the percentage suggests that there is a consistent segment of the community looking for rental accommodations.
In conclusion, ZIP code 38646 offers a mixed picture for real estate investment. While there is a reliable segment of the population seeking rentals, the financials of the rent itself do not offer much margin for error due to the gap between FMR and market rent. Furthermore, the lack of comprehensive data on median home values, days on market, and price-cut percentages complicates the assessment of property acquisition costs and risks. Investors should proceed with caution, carefully considering the limited demand and potential financial constraints before committing to this market.
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.