Location: Tallahatchie County, MS | Metro: Tallahatchie County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The classification of ZIP code 38928 hinges on its financial metrics, particularly focusing on yield and stability. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is $840, while the market rent stands at $773. This indicates a rental market that is slightly below the metro average, suggesting a moderate yield environment.
Regarding stability, the ZIP code has a robust percentage of renters at 71.9%. While the days-on-market (DOM) figure is unavailable, the median household income of $35,438 provides insight into the economic health of the area. This income level supports a stable tenant base, which is critical for consistent cash flow.
To summarize, ZIP 38928 leans towards being a steady-cashflow zone. The primary driver for this classification is the high percentage of renters, which ensures a continuous demand for housing. Additionally, the income levels suggest that tenants can reliably afford their rent, further supporting the stability aspect.
The yield, however, is not exceptionally high given that the market rent is lower than the metro average. This makes it less attractive for high-risk, high-reward strategies such as flipping properties quickly. Instead, it favors a long-term investment approach where steady returns are prioritized over rapid capital gains.
In conclusion, based on the available data, ZIP 38928 presents itself as a balanced opportunity, offering reliable cash flow without the promise of extraordinarily high yields. Landlords and small-portfolio investors should find this environment conducive to maintaining a stable portfolio with predictable returns.
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.