Section 8 Fair Market Rent (FMR) for ZIP 38961 - 2027

Location: Yalobusha County, MS | Metro: Grenada County, MS

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$840
2 Bedrooms	$970
3 Bedrooms	$1,230
4 Bedrooms	$1,400
5 Bedrooms	$1,624
6 Bedrooms	$1,819
7 Bedrooms	$1,965
8 Bedrooms	$2,063

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

411

Median Household Income

$46,792

Housing Units

373

Renter Percentage

9.7%

Occupancy Rate

63.5%

Renter Occupied

The ZIP code 38961, located in the heart of rural Tennessee, offers a stable but modest real estate market. Known for its quiet living and close-knit community, this area presents unique opportunities for both landlords and small-portfolio investors looking to capitalize on a niche market.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $890, indicating the average rental price that landlords can expect to charge.
The median home value in ZIP 38961 stands at $150,599, providing a benchmark for property values and investment potential.
Renters make up 9.7% of the housing market, suggesting a smaller pool of tenants compared to more urbanized areas.
The median income in the area is $46,792, which landlords should consider when setting rental rates to ensure affordability for local residents.
While specific data points such as market rent and days on market (DOM) are currently unavailable, these metrics are crucial for understanding the dynamics of the rental market and the speed at which properties are leased.

Investors in ZIP 38961 can leverage the established fair market rent and median home values to guide their pricing strategies. With a lower renter share and a median income below the national average, it's important to focus on affordability and stability. The lack of detailed market rent and DOM data suggests a less volatile market, which can be advantageous for those seeking steady, long-term investments. Overall, this area provides a solid foundation for investors who prioritize consistency over rapid growth.

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.