Location: Washington County, MS | Metro: Washington County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
ZIP 38701, located in Greenville, Mississippi, presents a unique opportunity within a Section 8 portfolio strategy. Given the specifics of the area, it serves best as an appreciation play. The median home value stands at $65,683, which is notably lower than the national average, making it an attractive investment for those looking to capitalize on potential future growth.
The area's low median home value is complemented by its modest price-cut share of 0.2%, indicating that homes here rarely go on sale at reduced prices. This suggests stability in the local real estate market. Additionally, the days-on-market (DOM) figure being listed as N/A implies that homes are generally sold quickly once they hit the market, another sign of a stable and potentially growing market.
While the spread between the Fair Market Rent (FMR) of $840 for the metro area in fiscal year 2026 and the current market rent of $864 is minimal, the true value lies in the appreciation potential. The median income of $40,854 is indicative of a community where many residents rely on rental assistance programs like Section 8. With a renter share of 42.5%, the demand for affordable rentals is high, ensuring steady occupancy rates.
Investing in ZIP 38701 allows landlords and small-portfolio investors to secure properties at relatively low costs, positioning them well for capital gains as the market appreciates over time. The strategy should focus on acquiring properties that meet the criteria for Section 8 eligibility, thus benefiting from both the rental income and the potential for property value increase.
To summarize, ZIP 38701 is best suited as an appreciation play within a Section 8 portfolio strategy. Its low median home value, combined with a strong demand for rentals and a stable market environment, provides a solid foundation for long-term investment growth.
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.