Location: Marshall County, MS | Metro: Marshall County, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
ZIP code 38649, located within the Marshall County, MS HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1050 for fiscal year 2024. This figure represents the rent amount deemed reasonable for a standard unit in the area by the U.S. Department of Housing and Urban Development (HUD).
To contextualize 38649's FMR within the broader Marshall County, MS HUD Metro FMR Area, we must consider typical metrics. However, the specific data for market rent, home values, and renter share percentages for ZIP 38649 are currently unavailable. Despite this limitation, the FMR of $1050 can be used to make some inferences.
In the absence of detailed market rent and home value data, we can still analyze the potential attractiveness of ZIP 38649 to landlords and small-portfolio investors based on the FMR alone. If the FMR is significantly lower than the average market rent in Marshall County, it suggests that 38649 could be a value pocket, offering rental opportunities at rates below what might be expected in the wider market. Conversely, if the FMR is closer to or exceeds the average market rent, it indicates a more competitive or premium sub-market.
The lack of data on renter share percentage means we cannot definitively state whether there is a high concentration of renters who might benefit from Section 8 housing vouchers. Typically, a higher renter share combined with lower home values signals a sweet spot for Section 8 properties, but without specific numbers, this inference remains speculative.
Landlords and investors should use the FMR of $1050 as a baseline for setting rental prices that comply with Section 8 guidelines. To determine if 38649 is a value pocket, mid-tier neighborhood, or premium sub-market, additional research into local market conditions and trends would be necessary.
Data Sources: FMR data from HUD (2027).
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.