Location: Leake County, MS | Metro: Jackson, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The ZIP code 39094, located within the Leake County, MS metro, presents a unique profile when compared to other ZIP codes in the area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $940, slightly above the market rent of $911. The median home value stands at $174,694, which is a key figure for understanding the overall property value within this ZIP. Additionally, the renter share in 39094 is 14.9%.
To determine if 39094 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we need to consider how these figures stack up against typical Leake County, MS ZIP codes. Generally, a ZIP code with a higher FMR but a lower market rent can indicate a value pocket for investors who are willing to accept slightly below-market rents to benefit from potential future increases in rental rates. In 39094, the FMR being higher than the market rent suggests that properties here could be undervalued relative to what the government deems fair for housing assistance programs.
The median home value of $174,694 is another critical metric. If this figure is notably lower than the average home value across Leake County, it could signal an opportunity for investment in a growing area. Conversely, if it aligns closely with the county's average, then 39094 would likely be considered a mid-tier neighborhood, offering neither particularly high nor low investment opportunities.
A ZIP code with a high renter share, such as 39094's 14.9%, combined with a below-average home value compared to the broader metro area, can often be indicative of a Section 8 sweet spot. This means that there might be a significant number of tenants eligible for housing assistance, making it attractive for landlords who are willing to participate in the Section 8 program. However, without specific comparative data on average home values and renter shares across Leake County, a definitive classification between value pocket, mid-tier, and premium sub-market cannot be made.
In conclusion, based on the provided figures, ZIP 39094 appears to have characteristics that could suggest it is either a value pocket or a mid-tier neighborhood, depending on how its home value compares to the rest of Leake County. The high renter share coupled with a below-market home value potentially positions it favorably for Section 8 investments.
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.