Location: Lee County, MS | Metro: Itawamba County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 38855 within the Lee County, MS metro area reveals several key insights. The HUD Fair Market Rent (FMR) for the metro scope in fiscal year 2026 is set at $990. This figure stands above the current market rent of $847, as reported by the Census ACS. Voucher tenants will cashflow positively at the FMR rate, meaning that landlords can expect a consistent and reliable income stream from these tenants without subsidizing their rent.
To further understand the investment potential, consider the median home value of $166,706. Using this figure, we can calculate a rent-to-price ratio of approximately 0.6%, which suggests that rental properties are relatively affordable compared to homeownership in this area. This makes the rental market particularly attractive for both landlords and small-portfolio investors looking to capitalize on the demand for affordable housing.
The dynamics between renting and buying do not significantly impact the decision-making process for investors in ZIP 38855, as the data on median Days on Market (DOM) and percentage of price cuts are not available. However, given the positive cashflow from voucher tenants and the affordability of rental properties relative to home values, the primary focus should be on securing stable, long-term returns.
In summary, the strongest investor angle in ZIP 38855 is cashflow. Landlords and small-portfolio investors can confidently rely on the FMR to ensure a steady income stream, especially when compared to the lower market rents. This makes the area an ideal location for those seeking to maximize their financial gains through rental investments.
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.