Location: Tishomingo County, MS | Metro: Prentiss County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $690 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,110 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
U.S. Census Bureau data (2024)
The ZIP code 38873 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, as the market rent stands at $497 compared to the Federal Market Rent (FMR) of $840 for FY 2026 in the metropolitan area. This disparity indicates that tenants might be attracted by the lower market rent but may struggle to afford higher rents outside of the voucher program, leading to frequent turnover.
Vacancy exposure is another risk factor. The Days on Market (DOM) figure is currently unavailable, which makes it difficult to predict how long properties might remain vacant between tenants. High vacancy rates can significantly impact cash flow, especially when waiting periods are extended.
Deferred maintenance is also a critical issue. With a typical home value of $169,502 and a median income of $54,107, many homeowners might delay necessary repairs due to financial constraints. For landlords, this means that homes in need of Section 8 vouchers might already require substantial maintenance work, which can be costly and time-consuming.
However, these risks must be weighed against the high concentration of renters in the area, with 16.2% of the population being renters. High renter density often correlates with greater demand for housing assistance programs like Section 8, potentially stabilizing occupancy rates and ensuring steady rental income.
In conclusion, despite the potential for high tenant turnover, vacancy exposure, and deferred maintenance costs, the strong demand for rental housing makes ZIP 38873 a moderate risk for a first-time Section 8 landlord.
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.