Location: Carroll County, MS | Metro: Carroll 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 | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $910 | $137,885 | 0.66% | D |
| 3BR | $1,120 | $178,682 | 0.63% | D |
| 4BR | $1,200 | $289,594 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 38917 in Mississippi is moderately renter-heavy, with 26.6% of the population renting their homes. This percentage indicates a significant portion of the population that could potentially be using housing vouchers, particularly given the median household income of $60,432. The Fair Market Rent (FMR) for the metro area is set at $840 for fiscal year 2026, which provides a benchmark for rental pricing.
To understand the depth of voucher demand, it's crucial to compare the median income to the average market rent. However, specific market rent figures for ZIP 38917 are not provided in the data. Despite this, we can infer that the cost of rent likely consumes a substantial portion of the local income, considering the FMR figure and typical rent-to-income ratios.
The FMR of $840 suggests that tenants relying on Section 8 vouchers would have a monthly budget for rent that aligns closely with this figure. For context, if we assume the average market rent is around the FMR, then a tenant receiving an $840 voucher would need to contribute an additional amount based on their income. Section 8 guidelines typically require tenants to pay 30% of their adjusted income toward rent.
In ZIP 38917, landlords should anticipate tenants who rely heavily on housing assistance. These tenants will often be families or individuals with lower incomes, who may benefit from the voucher system. The tenant profile will likely include those whose income is less than the median, making them eligible for assistance programs such as Section 8.
Given the median income of $60,432, a family or individual earning around half of this, or $30,216 annually, would be considered low-income and could qualify for Section 8 vouchers. At this income level, the required contribution towards rent would be approximately $252 per month, leaving the voucher to cover the remaining $588 of the $840 FMR.
This analysis underscores that while ZIP 38917 isn't dominated by renters, there is a notable segment of the population that would benefit from and utilize Section 8 vouchers. Landlords should prepare for a mix of tenants, some of whom will require voucher assistance to afford housing in this market.
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.