Location: Sunflower County, MS | Metro: Leflore County, MS
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,260 | $89,971 | 1.4% | A |
U.S. Census Bureau data (2024)
The ZIP code 38761, located within the Sunflower County, MS metro, presents a unique set of characteristics that distinguish it from other ZIP codes in the area. With a Fair Market Rent (FMR) of $840 for fiscal year 2026, it aligns closely with the metro average, suggesting that rental prices here are reflective of the broader local market trends.
In contrast, the market rent of $630 in ZIP 38761 is notably lower than the FMR, indicating a potential discrepancy between what is considered fair rent and actual market rates. This could be due to various factors such as supply and demand dynamics, landlord willingness to accept lower rents, or the presence of government-subsidized housing programs like Section 8.
The median home value of $87,356 in ZIP 38761 is significantly below the typical home values seen in the Sunflower County, MS metro. This suggests that the area might be more affordable for homeownership, but it also implies that there could be a higher concentration of renters who cannot afford to buy homes at even the lower prices.
The renter share of 34.8% is slightly above the national average, which typically hovers around 33%. However, this figure is not necessarily indicative of being a sweet spot for Section 8 investments without further context on the overall renter share trend across the metro. It's worth noting that a high renter share combined with below-average home values can signal an area where Section 8 vouchers are commonly used, thus making it a potentially attractive location for landlords seeking stable tenants.
Based on the provided figures, ZIP 38761 appears to be a value pocket within the Sunflower County, MS metro. The lower-than-average market rent and below-median home values suggest that while the area is affordable, it may also face challenges related to economic conditions that affect property values and rental rates.
To determine if ZIP 38761 is indeed a sweet spot for Section 8 investments, further analysis would be required, including the number of active Section 8 vouchers, the percentage of properties participating in the program, and the local economic indicators that influence tenant stability and rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.