Location: Washington County, MS | Metro: Issaquena County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 38744 presents several challenges for potential Section 8 landlords. Firstly, the tenant turnover rate can be a significant concern. The market rent in this area is not available, but the Fair Market Rent (FMR) for FY 2026 is set at $840. This fixed rent amount might not align with market conditions, leading to higher turnover rates if tenants seek better deals elsewhere. Secondly, vacancy exposure is a critical risk factor. While the average days on market (DOM) for properties in this area is not specified, a higher DOM can indicate a longer period of non-income generation, which can be detrimental to cash flow. Lastly, there is a notable risk associated with deferred maintenance due to the typical home value being $174,817 and the median income being $22,547. These figures suggest that homeowners might struggle to keep up with necessary repairs and improvements, potentially affecting property quality over time.
Despite these risks, there are factors that can mitigate them. The renter share in this area is 25.4%, indicating a high concentration of renters. High renter density generally translates into increased demand for housing vouchers, such as those provided through Section 8. This demand can stabilize occupancy rates and reduce the likelihood of prolonged vacancies.
In conclusion, based on the available data, the risk for a first-time Section 8 landlord in ZIP 38744 is moderate. While there are significant challenges related to tenant turnover, vacancy exposure, and deferred maintenance, the high renter share offers a measure of stability and demand that can offset these issues.
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.