Location: Grenada County, MS | Metro: Calhoun County, MS
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,300 | $146,094 | 0.89% | C |
U.S. Census Bureau data (2024)
The analysis of ZIP code 38914 reveals a unique blend of yield potential and market stability that could be appealing to both landlords and small-portfolio investors. The Federal Market Rent (FMR) for the area is set at $920 for fiscal year 2026, which indicates the maximum rental assistance payment available under the Section 8 program. This FMR figure is a key indicator of the yield potential for properties in this ZIP code.
The median home value in ZIP 38914 stands at $136,027, providing a baseline for investment costs. Given the FMR of $920, landlords can expect to generate a steady cash flow from tenants participating in the Section 8 program. However, the absence of market rent data makes it challenging to compare the FMR against typical market rates, potentially indicating a niche market where Section 8 rentals play a significant role.
Stability in the market is influenced by several factors, including the percentage of renters, days on market (DOM), and average household income. With 27.8% of residents being renters, there is a notable demand for rental properties. Although the data lacks specifics on DOM, the average household income of $46,250 suggests a stable economic environment that supports consistent tenant occupancy.
Given these figures, ZIP 38914 appears to fall into a category of moderate stability and high yield potential, especially for those focused on Section 8 rentals. The high FMR relative to the median home value indicates strong cash flow opportunities, but the relatively low percentage of renters and the unknown market dynamics might suggest a slightly lower stability compared to areas with higher renter populations and more robust market data.
To summarize, ZIP 38914 is best classified as a high-yield/moderate-stability market. The yield is driven by the high FMR of $920, which exceeds the median home value of $136,027. Stability is supported by the presence of a substantial renter base at 27.8%, though the exact nature of the local rental market remains somewhat opaque without additional data points such as market rent or DOM statistics.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.