Location: Calhoun 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 | $870 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,640 | $134,153 | 1.22% | A |
U.S. Census Bureau data (2024)
33.0% of residents in ZIP 38951 are renters, indicating a substantial demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,170, which provides a benchmark for landlords considering their rental rates. This figure is slightly higher than the reported market rent of $1,089 based on Census ACS data, suggesting that landlords could potentially increase rents without losing tenants to the broader market.
$139,589 is the median home value in ZIP 38951, reflecting a relatively affordable housing market. However, landlords should be cautious about setting rents too high, given that the median income is only $40,568. This means that many residents may struggle to afford rents above the market rate, especially if they are already close to the FMR level.
The lack of data on days on market (DOM) and the percentage of price-cut share indicates stability in the rental market. Landlords can expect steady occupancy rates without needing to frequently adjust their rental prices. This stability is beneficial for small-portfolio investors who prefer predictable cash flows and minimal vacancy periods.
In conclusion, ZIP 38951 offers a balanced opportunity for landlords and small-portfolio investors, with a healthy demand for rental units and a fair gap between the FMR and market rent. Given these conditions, the area is well-suited for Section 8 participation, allowing investors to benefit from consistent rental income while serving a community in need of affordable housing options.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.