Location: Bolivar County, MS | Metro: Bolivar County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 38781 presents a challenging scenario for both renters and landlords. Given the median household income stands at $2,499 per month, it becomes evident that affording the market rate rent of $375 poses a significant financial strain on local residents. This makes housing relatively expensive compared to the average income level.
When we look at the federal payment standard for housing vouchers, which is set at $840 (FMR for metro FY 2026), it's clear that voucher recipients have a substantial advantage over those paying cash. The voucher amount significantly exceeds the market rate, making it easier for voucher holders to find suitable housing within their budget.
The demographic profile further highlights the competition landlords face. With 64.5% of the population being renters and a total population of 153, there is a notable concentration of individuals seeking rental properties. However, the affordability gap between median income and market rate rent suggests that many potential tenants may struggle to secure housing without financial assistance.
This dynamic creates a scenario where landlords must carefully consider their tenant selection strategy. Opting for voucher tenants could ensure steady, government-backed rental payments. In contrast, focusing on cash-paying tenants might limit the pool of available applicants due to the high cost of living relative to income. For landlords, the takeaway is clear: accepting housing vouchers can be a viable option to attract reliable tenants who can afford the rent without putting undue pressure on their finances.
In summary, while the market rate rent of $375 is challenging for many households earning the median income of $2,499, the higher voucher payment standard of $840 provides a buffer that can ease the financial burden on tenants. Landlords should weigh the benefits of accepting vouchers against the potential for securing cash-paying tenants, keeping in mind the competitive nature of the rental market in ZIP 38781.
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.