Location: Itawamba County, MS | Metro: Itawamba County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,100 |
| 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)
ZIP code 38876, located within Itawamba County, MS, presents an interesting case when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for 38876 is set at $840 for the fiscal year 2026, slightly below the market rent of $893. This suggests that while the FMR is a benchmark used for housing assistance programs, the actual rental market in this area commands a slightly higher price.
The median home value in ZIP 38876 stands at $147,194, which is indicative of a middle-tier neighborhood. Home values in this range suggest that it is neither a high-end nor a low-value area, but rather a moderate market where properties are affordable yet not inexpensive.
A key indicator for potential investment opportunities is the renter share, which in ZIP 38876 is 10.9%. This figure is relatively low compared to what might be seen in denser urban areas, but it's important to consider the context of Itawamba County, MS. A lower renter share could imply that there are fewer tenants, potentially making it less attractive for those looking to capitalize on rental income. However, it also suggests that homeownership is prevalent, which can stabilize property values over time.
When analyzing ZIP 38876 against other ZIP codes in Itawamba County, MS, the combination of a below-market FMR and a slightly above-FMR market rent indicates a balance between affordability and market demand. This makes 38876 a moderate investment opportunity, neither a value pocket nor a premium sub-market within the broader metro area.
Note the divergence between the FMR and market rent. This gap is often observed in areas where government-subsidized housing plays a role, such as through Section 8 vouchers. Landlords in ZIP 38876 who are considering participating in such programs should factor in the lower FMR, which might affect the rent they can charge to voucher holders. However, the slightly higher market rent shows that there is still a segment of the population willing to pay more, indicating a mixed rental market.
In conclusion, ZIP 38876 offers a balanced approach for real estate investment within Itawamba County, MS. Its characteristics align closely with a mid-tier neighborhood, offering both stability and reasonable returns without the extremes of value pockets or premium sub-markets.
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.