Location: Sunflower County, MS | Metro: Bolivar County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
The ZIP code 38732 is situated in a neighborhood characterized by a moderate population size of 16,696 residents, where nearly 38.4% of the populace are renters. This indicates a significant demand for rental properties, making it an attractive area for landlords and small-portfolio investors. The median household income in this area stands at $44,705, which suggests a middle-income demographic. The median home value of $143,761 reflects the overall affordability and value of residential properties within the ZIP code.
Turning to the economic realities of renting in 38732, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $890. In contrast, the current market rent, according to Census ACS data, is $810. This discrepancy between the FMR and the market rent implies a potential opportunity for landlords to increase their rental income while still remaining competitive with the local market rates.
Given these figures, ZIP 38732 can accommodate both hands-off voucher operators and hands-on value-add buyers. For those preferring a hands-off approach, the lower market rent compared to the FMR means that properties can be rented out under Section 8 vouchers without significant financial strain. However, for investors looking to actively manage and improve their properties, there is room to enhance the quality of the units and charge closer to the FMR, thereby increasing profitability. The balance between the demographic's income level and the median home value also supports a mixed strategy, where some properties might benefit from value addition while others could serve well as stable, low-maintenance rental investments.
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.