Location: Sunflower County, MS | Metro: Sunflower County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The ZIP code 38738 is characterized by a significant renter population, with 43.8% of residents being renters. This indicates that there is a substantial demand for rental properties in the area, which could translate into a robust market for tenants utilizing Section 8 housing vouchers. However, without specific data on the number of active vouchers in circulation, it's challenging to quantify the exact depth of voucher demand.
The median household income for ZIP 38738 is not available, which complicates direct comparisons between income levels and market rents. Nonetheless, the presence of a high percentage of renters suggests that many individuals may be reliant on assistance such as Section 8 vouchers to afford housing.
Market rent figures are also unspecified, but we can infer its relationship to the Fair Market Rent (FMR) of $980, which is set for FY 2026 for the metropolitan area. If the local market rent is close to or exceeds the FMR, then it would likely consume a significant portion of the average resident's income, potentially making it difficult for non-assisted low-income households to find affordable housing.
To illustrate the potential impact, consider if the median household income were hypothetically $30,000 annually, or about $2,500 monthly. A market rent at the level of the FMR would constitute approximately 39% of the monthly income, a considerable expense. This hypothetical scenario underscores the importance of housing assistance programs like Section 8 in areas with a high renter population.
A landlord in ZIP 38738 should anticipate a tenant pool heavily reliant on Section 8 vouchers due to the lack of detailed income data and the high proportion of renters. Tenants will likely be seeking affordable housing options and will require properties that meet the standards set by the program. It is crucial for landlords to understand the requirements and processes involved in accepting Section 8 tenants to successfully navigate this market.
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.