Location: Lafayette County, MS | Metro: Calhoun County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 38913 presents a unique opportunity for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 509 individuals, 18.6% of whom are renters, the area leans towards a mix of homeowners and renters. However, the renter percentage is significant enough to generate a notable demand for rental properties, particularly those that accept Section 8 vouchers.
The median household income in ZIP 38913 is $21,387, which aligns closely with the financial situation of many potential Section 8 tenants. The Fair Market Rent (FMR) for the metro area is set at $1,170 per month for FY 2026, indicating the maximum amount that landlords can charge for their units to be eligible for Section 8 participation. This figure serves as a benchmark for setting rental prices that will attract and retain tenants who qualify for the program.
To understand the impact of these income levels on typical rent payments, we must consider how much of the local income is consumed by rent. Given the lack of specific market rent data for ZIP 38913, we can infer that if market rents are around the FMR level, then typical rent would consume approximately 55% of the median household income. This calculation is based on the assumption that market rents are close to the FMR, making it a reasonable estimate for the area.
A landlord in ZIP 38913 should expect a tenant profile characterized by low-income households seeking affordable housing solutions. These tenants will likely rely heavily on Section 8 vouchers to cover their monthly rent. The FMR of $1,170 provides a clear guideline for setting competitive rental rates that cater to this demographic without exceeding the allowable limits for voucher use.
In conclusion, while ZIP 38913 is not dominated by renters, there is a substantial portion of the population that could benefit from Section 8 vouchers. Landlords who aim to serve this market should focus on maintaining properties that meet the eligibility requirements for the program and setting rents that are attractive to low-income families. This strategy will ensure a steady stream of qualified tenants and compliance with HUD standards.
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.