Location: Tishomingo County, MS | Metro: Tishomingo County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
U.S. Census Bureau data (2024)
The median income in ZIP code 38827 stands at $59,226, which presents a challenging scenario for renters aiming to afford the market rate rent of $764 per month. This makes it difficult for many households to find affordable housing without financial assistance.
Comparatively, the Fair Market Rent (FMR) set at $870 for fiscal year 2026 offers a slightly better outlook for those eligible for housing vouchers. However, even this figure exceeds the average monthly earnings based on the median income, highlighting an affordability gap that impacts both renters and landlords.
In ZIP 38827, where 28.9% of the 2,625 residents are renters, the competition among landlords is likely to be fierce. Landlords must consider the balance between accepting voucher payments, which ensure a steady income but might involve additional administrative work, and renting to cash-paying tenants who can offer higher rents but may be harder to find given the local economic conditions.
The takeaway for landlords is clear: while accepting vouchers ensures a reliable tenant base, the strategy should be weighed against the potential for attracting cash-paying tenants willing to pay closer to the FMR. Given the local median income, landlords might benefit from diversifying their rental offerings to include a mix of both voucher and cash-payment options, thereby stabilizing their income streams and adapting to the competitive landscape of the area.
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.