Location: Jackson, MS | Metro: Jackson, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 39045 has a population of 1,013 individuals, with only 5.5% of them being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties, especially those relying on Section 8 vouchers, is relatively low. The median household income stands at $39,021, which provides a baseline for understanding the financial capabilities of potential tenants.
To analyze the suitability of this ZIP code for Section 8 tenants, we must consider the relationship between local incomes and market rents. However, due to the lack of specific market rent data for ZIP 39045, we cannot provide an exact percentage of how much of the local income goes towards rent. Nonetheless, we can compare the median household income to the Fair Market Rent (FMR) set by HUD for the fiscal year 2024, which is $980 for this ZIP code. Given the median income, it's reasonable to infer that typical market rents would consume a significant portion of a household's budget, potentially around 25-30% or more if they were paying out-of-pocket without assistance.
The scarcity of renters in the area implies that landlords might face challenges in attracting tenants who do not have access to housing vouchers. Landlords should be prepared for a tenant pool that predominantly relies on government subsidies to afford housing. Tenants in this ZIP code are likely to be from low-income households, making the Section 8 program a critical component for securing stable tenancy. Landlords will need to ensure compliance with federal housing regulations and manage expectations regarding the pace of rent payments, which may be subject to the timing of government disbursements.
In conclusion, while ZIP 39045 is not heavily populated with renters, the limited number of rental units combined with the lower median income suggests that there is a niche market for Section 8 tenants. Landlords should anticipate a tenant base that requires rental assistance and plan accordingly to meet the demands of this specific demographic.
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.