Location: Monroe County, MS | Metro: Monroe 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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,210 |
| 5 Bedrooms | $1,404 |
| 6 Bedrooms | $1,572 |
| 7 Bedrooms | $1,698 |
| 8 Bedrooms | $1,783 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,100 | $181,558 | 0.61% | D |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 38821 presents a unique set of conditions that suggest a nuanced approach for landlords and small-portfolio investors. With a median home value of $158,627, the area is positioned at a price point that balances affordability and value. The fact that only 0.2% of listings have been reduced indicates a strong seller's market where pricing power remains firmly in the hands of homeowners. This stability in asking prices, coupled with the absence of a specific median days on market (DOM), implies that homes are either selling quickly or the market is experiencing consistent demand without significant inventory turnover.
On the rental side, the Federal Market Rent (FMR) for ZIP 38821 is projected to be $850 for the fiscal year 2026, while the current market rent stands at $814. This suggests that rents are likely to rise in the coming years, aligning with the broader trend of increasing costs in the region. Landlords can expect gradual increases in rental income, which could help offset any inflationary pressures on property management and maintenance costs.
For long-term investors considering holding properties in ZIP 38821, the appreciation thesis is grounded in the local economic stability and potential growth. The low percentage of price reductions and the projected increase in rental rates indicate a resilient market capable of maintaining asset values. However, the lack of a defined median DOM and the modest median home value imply that while appreciation is possible, it will likely be steady rather than explosive. Investors should anticipate an average annual appreciation rate reflective of broader regional trends, rather than expecting outsized gains.
In summary, the current setup in ZIP 38821 supports a strategy focused on maintaining and gradually increasing property values through stable pricing and rising rental income. The market signals a balanced environment where careful management and strategic planning will be rewarded with steady returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.