Location: Tippah County, MS | Metro: Benton County, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
U.S. Census Bureau data (2024)
In ZIP code 38683, there are several factors that could present challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, especially when comparing the market rent of $547 to the much higher Fair Market Rent (FMR) of $840 for fiscal year 2026 in the metropolitan area. This discrepancy suggests that tenants might be attracted to the lower rental costs and could move on once they secure better financial situations or find more affordable housing options elsewhere.
Vacancy exposure is another issue to consider. The data does not provide a specific number of days on the market (DOM), which makes it difficult to assess how long properties might remain vacant. However, in areas where the typical home value is around $148,509 and the median income is $39,107, landlords can expect a competitive market for renters. This could lead to prolonged vacancies if the property is not well-maintained or priced competitively within the Section 8 guidelines.
The deferred-maintenance exposure is also notable. Given the typical home value, landlords should be prepared to invest in regular upkeep to ensure their properties meet the necessary standards set by the Housing Choice Voucher program. Neglecting maintenance can result in costly repairs down the line and potential loss of eligibility for Section 8 participation.
On the other hand, the high renter share of 24.4% indicates a robust demand for rental housing, including those utilizing vouchers. High renter density often translates into a steady stream of potential tenants who are looking for subsidized housing, reducing the risk of vacancy. Furthermore, the concentration of renters can create a competitive environment among landlords, driving up the demand for Section 8 properties.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 38683.
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.