Location: Monroe County, MS | Metro: Monroe County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
The ZIP code 38844 stands out due to its unique characteristics that set it apart from typical rental markets. With only 161 residents, this area has a remarkably low population density. Of these residents, just 2.5% are renting their homes, indicating a predominantly owner-occupied community. The median income here is $65,734, which suggests a relatively stable economic situation for the majority of residents. However, the absence of data on median home values indicates a potential lack of housing diversity or an underdeveloped real estate market.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $840. This figure represents the maximum amount that a voucher holder can pay toward rent. Unfortunately, the specific market rent data for ZIP 38844 is not available, making it challenging to compare the FMR against local rental rates. Landlords and small-portfolio investors should be cautious about relying solely on voucher holders for tenancy, given the low percentage of renters in the area.
The data signature for ZIP 38844 reads as stable, considering the median income level and the high percentage of homeowners. However, the limited rental market and the absence of median home value data suggest a transitional phase, possibly due to recent development or changes in the local economy. Investors should monitor the local real estate trends closely to understand how this stability might shift over time.
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.