Location: Issaquena County, MS | Metro: Issaquena County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,210 |
| 5 Bedrooms | $1,404 |
| 6 Bedrooms | $1,572 |
| 7 Bedrooms | $1,698 |
| 8 Bedrooms | $1,783 |
U.S. Census Bureau data (2024)
The ZIP code 38745 presents a unique snapshot of the rental market, particularly concerning the Section 8 program. The Fair Market Rent (FMR) for the area is set at $840 for fiscal year 2026, indicating a baseline for what is considered affordable for low-income households under federal guidelines. However, the absence of data on market rent, price-cut share, days on market (DOM), and median home value suggests that there may be limited activity in these sectors, potentially pointing towards a market where demand might not be keeping pace with supply.
The 0.0% renter share figure is noteworthy and provides insight into the long-term housing pressures faced by the area. This statistic implies that virtually all residents are homeowners, which can suggest a stable community with fewer short-term fluctuations due to transient renters. In such a market, long-term housing pressures may manifest differently compared to areas with higher renter shares, possibly through gradual increases in property values or shifts in homeowner demographics rather than spikes in rental demand.
Despite the lack of comprehensive market data, the static nature of the available figures—specifically the FMR without corresponding market rent data—implies a potential equilibrium or underserved state. Landlords and small-portfolio investors should take note of the limited supply of rental units and the strict adherence to the FMR. This could mean that opportunities for rental properties in compliance with Section 8 guidelines are scarce, and any new rental units entering the market must meet the exacting standards set by the FMR without room for significant price adjustments.
In summary, ZIP 38745 appears to be a market predominantly composed of homeowners, with a defined but static rental sector tied closely to federal affordability guidelines. For those interested in the rental market, especially within the constraints of the Section 8 program, understanding these dynamics is crucial for navigating the local real estate landscape effectively.
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.