Location: Tishomingo County, MS | Metro: Alcorn County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,110 |
| 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 real estate landscape in ZIP code 38833 is poised for careful consideration by landlords and small-portfolio investors. With a median home value at $168,804, the area reflects a modest yet stable housing market. The absence of data on the percentage of listings that have been reduced and the median days on market (DOM) suggests a balanced market where neither buyers nor sellers hold significant leverage, implying steady pricing power over the next 12-24 months.
On the rental side, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $840, while the current market rent stands at $692. This indicates a potential upward trend in rental values, which could benefit long-term investors in ZIP 38833. As the gap between the FMR and the actual market rent widens, it signals an opportunity for landlords to gradually increase rents without losing tenants, provided they maintain competitive offerings in terms of property condition and location.
For those considering long-hold investments, the appreciation thesis in ZIP 38833 is anchored in the convergence of market rent towards the FMR. Over time, as rental prices rise to meet the projected FMR, the value of rental properties is likely to appreciate, driven by higher cash flows and improved tenant retention rates. However, the lack of specific data on recent reductions and DOM suggests that rapid appreciation might not be imminent. Instead, investors should anticipate a gradual increase in property values, aligned with the growth in rental income.
In summary, the current setup in ZIP 38833, characterized by a moderate median home value and a rental market that is expected to grow towards the FMR, offers a solid foundation for both short-term and long-term strategies. Landlords and investors can expect to maintain their pricing power through a combination of steady property values and increasing rental yields, positioning them well for future market conditions.
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.