Location: Carroll County, MS | Metro: Carroll County, MS
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 38947 presents several challenges for potential Section 8 landlords. Tenant turnover can be a significant issue due to the disparity between market rent and the Fair Market Rent (FMR) of $840, which is set for FY 2026 in the metropolitan area. This discrepancy often leads to higher turnover rates as tenants may struggle to afford market rents when they exceed the FMR subsidy.
Vacancy exposure is another critical risk factor. The average days on market (DOM) for rental properties in this area is currently unknown, but historically, longer DOM periods can indicate a higher risk of extended vacancies. Vacancies can significantly impact cash flow, especially if market conditions are unfavorable and it takes longer to find a new tenant.
Deferred maintenance is also a concern. With the typical home value and median income both unspecified, it's difficult to gauge the financial health of property owners. However, lower incomes relative to home values might suggest that homeowners are less likely to invest in regular maintenance, potentially leading to higher repair costs over time.
Despite these risks, there is a silver lining in the form of the 0.0% renter share. While this figure indicates an extremely low density of renters, it also implies minimal competition for Section 8 tenants. In other areas with high renter density, the demand for vouchers often outstrips supply, making it harder for landlords to secure tenants using Section 8. Conversely, in ZIP 38947, landlords might find it easier to attract tenants who need voucher assistance due to the scarcity of rental properties.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.