Section 8 Fair Market Rent (FMR) for ZIP 38848 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$790
2 Bedrooms	$930
3 Bedrooms	$1,150
4 Bedrooms	$1,230
5 Bedrooms	$1,427
6 Bedrooms	$1,598
7 Bedrooms	$1,726
8 Bedrooms	$1,812

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, ZIP 38848, located in Monroe County, Mississippi, can be considered a diversifier within a Section 8 portfolio strategy. The median income in this area is $80,962, indicating a relatively stable economic condition. However, the lack of specific market data such as the Fair Market Rent (FMR) and median home value makes it challenging to assess its potential as a cash-flow anchor or an appreciation play.

The primary reason for categorizing ZIP 38848 as a diversifier is the 0.0% renter share, which suggests that homeownership is predominant in the area. This characteristic can help balance a portfolio that might otherwise be heavily weighted towards rental properties. While the Fair Market Rent for the metro area in fiscal year 2026 is listed at $860, there is no comparable local market data to determine if this would provide a positive cash flow spread. The absence of local market data also means we cannot evaluate it as an appreciation play.

Investors should consider the demographic stability and economic conditions of ZIP 38848 when deciding to include it in their Section 8 portfolio. The higher median income supports the likelihood of timely rent payments and lower tenant turnover, which are beneficial attributes for Section 8 properties. Although the area does not appear to offer significant immediate cash flow benefits or rapid appreciation opportunities based on the available data, its inclusion can contribute to a more diversified and resilient investment strategy.

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.