Location: Union County, MS | Metro: Pontotoc County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The ZIP code 38869 stands out due to its relatively small population of 259 residents, indicating a tight-knit community where personal relationships can play a significant role in rental dynamics. With 45.9% of the population renting, there is a notable demand for affordable housing options. However, the lack of data on median home values suggests that homeownership may be less prevalent or that the data is insufficient to provide an accurate picture.
The median income of $62,955 offers insight into the economic stability of the area. This figure is critical when considering the affordability of housing for both renters and potential buyers. For landlords and small-portfolio investors, it's essential to note the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 38869, set at $1,010 for fiscal year 2026, is notably higher than the current market rent of $906, based on Census ACS data. This difference highlights a potential opportunity for landlords who can leverage Section 8 vouchers to secure tenants willing to pay closer to the FMR rate.
The voucher economics in this ZIP code present a compelling case for landlords. The higher FMR compared to the market rent means that properties participating in the Section 8 program can command rents above the current market average. This can help offset any perceived risks associated with the program and provide a steady, reliable income stream. Additionally, the availability of vouchers can reduce vacancy rates, which is particularly beneficial in areas with limited rental demand.
Evaluating the data signature of ZIP 38869, it reads as "stable." Despite the small population, the median income suggests a consistent economic base, and the presence of a substantial percentage of renters indicates ongoing demand for rental properties. While the median home value data is missing, the overall picture points towards a neighborhood where rental properties can serve as a solid investment. Landlords should consider these factors when deciding whether to participate in the Section 8 program, as it can provide a stable tenant pool and potentially higher rental income.
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.