Location: Bolivar County, MS | Metro: Bolivar County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The ZIP code 38726 is located in a rural area with a small population of 345 residents. The rental market is modest, with 24.7% of the population renting their homes. The median income in this area is relatively low at $31,929, which indicates a community that may rely heavily on government assistance programs such as Section 8 housing vouchers. Notably, the median home value is not available, suggesting that the housing stock might be older or less standardized compared to larger metropolitan areas.
Moving into the economic realities of the rental market, the Fair Market Rent (FMR) for ZIP 38726 is set at $840 for the fiscal year 2026, reflecting the cost of housing in the broader metro area. However, the actual market rent is significantly lower at $443 according to Census ACS data. This discrepancy presents an opportunity for investors to offer affordable housing options while still benefiting from the higher subsidy levels provided by the government.
Given these conditions, ZIP 38726 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area's reliance on government subsidies and the potential for stable cash flows due to the low market rent make it a viable option. Meanwhile, value-add buyers can leverage the difference between the FMR and the current market rent to improve properties and still remain within the affordability range for Section 8 tenants, thereby enhancing their investment's value over time.
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.