Location: Tallahatchie County, MS | Metro: Tallahatchie County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 38957 are defined by the SAFMR (Small Area Fair Market Rent) which stands at $1,030 for a two-bedroom apartment in fiscal year 2026. This SAFMR figure is specific to this ZIP code, meaning it does not vary based on broader metro or county averages but is tailored to the local housing market conditions.
Local market rents, according to Census ACS data, run significantly lower at $549 for a two-bedroom unit. This discrepancy highlights the potential financial dynamics for landlords participating in the Section 8 program in this area.
A landlord should understand that the total amount paid by a voucher includes the tenant's portion of the rent plus any utility allowances. Typically, the tenant is responsible for paying 30% of their adjusted income towards rent. For instance, if a tenant has an adjusted income of $1,500 per month, they would pay $450 ($1,500 x 0.3) towards rent. The remaining balance up to the SAFMR of $1,030 is covered by the Section 8 voucher.
In ZIP 38957, the typical reimbursement scenario would look like this:
Note that utility allowances can vary and are determined by the local Public Housing Agency (PHA). These allowances do not directly increase the rental income but are intended to help cover the cost of utilities for the tenant. However, they do play a role in setting the overall payment cap for the voucher.
Given the local market rent of $549, landlords in ZIP 38957 could potentially face a surplus when renting to tenants with Section 8 vouchers. The surplus is calculated as the difference between the SAFMR and the local market rent. In this case, the surplus would be $481 per month ($1,030 - $549).
This surplus represents additional revenue above the typical local market rate, making participation in the Section 8 program financially beneficial for landlords in ZIP 38957.
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.