Location: Sunflower County, MS | Metro: Sunflower County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 38778 reveal a market in motion, characterized by a balance between rental and ownership costs. With a Fair Market Rent (FMR) of $840 for the fiscal year 2026, the area reflects a moderate cost of living that is significantly higher than the market rent of $440 reported by the Census Bureau's American Community Survey. This disparity suggests that while there might be some affordability in the rental sector, the overall housing market leans towards higher costs.
The median home value stands at $87,292, indicating that homeownership is relatively accessible compared to many other regions. However, the lack of data on the percentage of price cuts and days on the market (DOM) makes it challenging to definitively state whether supply currently outpaces demand or vice versa. The snapshot suggests a stable market but requires further analysis to understand the full supply-demand relationship.
A noteworthy aspect is the 57.4% share of renters in the area. This high percentage of residents who prefer renting over owning signals a significant long-term housing pressure. It implies that a substantial portion of the population is likely to remain in the rental market due to various factors such as financial constraints, lifestyle choices, or speculative investment behavior. For landlords and small-portfolio investors, this statistic points to a consistent demand for rental properties, which can be leveraged for steady income streams.
In conclusion, ZIP 38778 presents a market with a mix of affordable rentals and relatively low-cost homeownership options. The high renter share underscores a persistent demand for rental units, making it an attractive location for those interested in the rental property business. While the current data does not provide a complete picture of the supply-demand balance, it does highlight areas of potential opportunity for real estate investments.
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.