Location: Calhoun County, MS | Metro: Calhoun County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $630 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,190 |
| 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 ZIP code 38839 is situated in a neighborhood characterized by a predominantly rental market. With a total population of 96, an overwhelming 82.9% of residents are renters, indicating a strong demand for affordable housing options. The median household income in this area stands at $40,536, which is relatively low, suggesting that many residents rely on government assistance such as Section 8 vouchers to afford housing. The median home value in ZIP 38839 is $82,031, reflecting the overall affordability of the housing stock.
From an investment perspective, the rent economics present a favorable scenario for landlords and small-portfolio investors. According to the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD), the FMR for the metro area in fiscal year 2026 is $890. This figure is notably higher than the current market rent, which is reported at $773 based on Census ACS data. This gap between the FMR and the actual market rent suggests that properties in ZIP 38839 could potentially command higher rents if they qualify for Section 8 vouchers, thus offering a potential profit margin for landlords.
The question of whether this ZIP code suits a hands-off voucher operator or a hands-on value-add buyer hinges on the specific goals and capabilities of the investor. For those seeking a low-maintenance approach, the high percentage of renters and the alignment with Section 8 criteria make ZIP 38839 an attractive option. Hands-off operators can benefit from the stable cash flow provided by the government subsidy, with minimal need for property management activities beyond routine maintenance.
On the other hand, for hands-on investors looking to add value, there is room for improvement in terms of rent levels and property conditions. Given the disparity between the FMR and the current market rent, renovating properties to meet Section 8 standards could enable landlords to charge closer to the HUD-set rates. Additionally, the relatively low median home value presents opportunities for acquiring undervalued assets, which can be improved and rented out at higher rates once certified for the Section 8 program.
In summary, ZIP 38839 offers a mix of stability and growth potential for Section 8 investors. Whether the strategy is passive or active, the economic indicators suggest that this area can be profitable, especially for those willing to engage in property improvements to capture the higher FMR rates.
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.