Location: Alcorn County, MS | Metro: Alcorn County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
The Fair Market Rent (FMR) for ZIP code 38835 in Unknown, Mississippi, is set at $840 for the fiscal year 2026. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 housing program, not the actual rent you can charge tenants. It means HUD will pay up to $840 per month towards a tenant's rent if the property qualifies.
While the local average rent is listed as N/A, and the percentage of renters in the area is also N/A%, these missing details indicate that there isn't enough publicly available data to provide a precise comparison. However, the demand for affordable housing is typically high in areas where the FMR is established, suggesting a strong interest among potential tenants in ZIP 38835.
The median home value in the area is listed as N/A, which can help you gauge the typical acquisition cost for properties. Given the lack of specific local rent data, it's important to research further into the neighborhood to understand the prevailing rental rates and ensure your property's rent aligns with market expectations.
Before proceeding with a Section 8 rental, it's crucial to verify that your property meets all the eligibility requirements set by HUD. These include passing a housing quality standards inspection, ensuring the rent falls within the allowable range based on the FMR, and confirming that you comply with fair housing laws. This verification step is essential to avoid any issues that could prevent you from participating in the program.
In summary, the FMR of $840 for ZIP 38835 indicates the maximum amount HUD will contribute towards a tenant's rent through the Section 8 program. With limited local data, focus on thorough due diligence to confirm the property's suitability for Section 8 and align your rental pricing with the broader market trends in the area.
Data Sources: FMR data from HUD (2027).
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.