Section 8 Fair Market Rent (FMR) for ZIP 38868 - 2027

Location: Pontotoc County, MS | Metro: Chickasaw County, MS

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$940
1 Bedroom	$960
2 Bedrooms	$1,080
3 Bedrooms	$1,370
4 Bedrooms	$1,450
5 Bedrooms	$1,682
6 Bedrooms	$1,884
7 Bedrooms	$2,035
8 Bedrooms	$2,137

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,371

Median Household Income

$41,030

Housing Units

2,161

Renter Percentage

26.0%

Occupancy Rate

86.7%

Renter Occupied

487

ZIP code 38868, located within Pontotoc County, MS, presents a unique profile when compared against typical ZIP codes within the same county. The Fair Market Rent (FMR) for 38868 stands at $990 for the fiscal year 2026, which is slightly above the county's average market rent of $894. This indicates that rental properties in 38868 are expected to command higher rents than the broader county average, making it a potentially attractive location for landlords seeking to maximize their rental income.

The median home value in 38868 is $160,028, which is notably lower than what might be considered premium within the metro area. This suggests that 38868 is more aligned with a mid-tier neighborhood status rather than a premium sub-market. However, the lower home values combined with a relatively high renter share of 26.0% could indicate a sweet spot for Section 8 investments. A significant proportion of renters in an area with below-average home values can signal a concentration of affordable housing options, which often aligns well with government-assisted housing programs.

To further contextualize, let’s consider the following points:

Rental Income Potential: With an FMR of $990, landlords can expect to charge slightly above the local market rate, providing a competitive edge in terms of rental income.
Affordability: The median home value of $160,028 makes 38868 more accessible for first-time buyers and investors looking for entry-level properties. This also supports the notion that it is a value pocket within the metro area.
Renter Concentration: The 26.0% renter share is a key indicator for potential Section 8 opportunities. High renter shares can mean a larger pool of tenants who may qualify for government assistance, thereby stabilizing cash flow for landlords.

In summary, ZIP 38868 appears to be a value pocket within the Pontotoc County, MS metro, offering a blend of mid-tier home values and slightly above-average rental income potential. Its high renter share makes it particularly appealing for Section 8 investments, where the combination of affordable homes and a ready tenant pool can create a stable investment environment.

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.