Location: Washington County, MS | Metro: Sunflower County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 landlord in ZIP code 38756 are significant and should be carefully considered before investing. Tenant turnover is a critical issue, with the market rent at $797 being lower than the Fair Market Rent (FMR) of $840 for fiscal year 2026 in the metropolitan area. This discrepancy can lead to higher turnover rates as tenants may seek properties that offer them more value for their money. Additionally, vacancy exposure is a concern due to the lack of data on days on market (DOM), which suggests that there might be periods where properties remain vacant, leading to financial losses.
The deferred maintenance exposure is another factor that must be taken into account. With a typical home value of $70,978 and a median income of $45,625, it's likely that homeowners in this area may struggle to maintain their properties, potentially leading to increased maintenance costs for landlords. However, the high renter share of 27.2% in ZIP 38756 indicates a robust demand for rental properties, which often translates into a higher demand for housing vouchers. This demand can mitigate some of the risks associated with vacancy and maintenance by ensuring a steady stream of tenants who are financially supported through the Section 8 program.
Despite these mitigating factors, the combination of tenant turnover, potential vacancy exposure, and deferred maintenance risks presents a challenging environment for landlords. The uncertainty around days on market and the need to manage properties with lower income residents requires a proactive approach to property management and tenant relations. Therefore, the overall risk for a first-time Section 8 landlord in ZIP 38756 is moderate.
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.