Location: Smith County, MS | Metro: Jackson, MS HUD Metro FMR Area
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 | $880 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,270 | $184,943 | 0.69% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 39117 is poised for careful consideration by landlords and small-portfolio investors. With a median home value of $128,190, the area presents an opportunity for investment that is currently undervalued compared to broader market trends. The fact that the percentage of listings reduced and the median days on market (DOM) are not available suggests a stable market with minimal fluctuation in recent times, indicating a consistent demand for properties.
On the rental side, the Forward Monthly Rent (FMR) set at $950 for fiscal year 2024 contrasts with the current market rate of $962, as reported by the Census Bureau's American Community Survey (ACS). This slight premium on the market rate implies that landlords can maintain competitive rents without significant adjustments, supporting steady cash flow.
The median home value, while relatively low, provides a solid foundation for long-term investment strategies. Given the stability implied by the lack of reduced listings and the unreported DOM, it signals that the market is unlikely to experience drastic price changes in the near future. For long-hold investors, this suggests a realistic scenario where property values will appreciate gradually, aligning with inflationary pressures and economic growth rather than speculative bubbles.
The setup in ZIP 39117 supports a conservative appreciation thesis. Investors should anticipate modest gains, driven by the underlying economic health of the region and the inherent value of real estate as a hedge against inflation. The balance between the FMR and market rates also indicates that rental income can support property ownership costs, making this a viable option for those seeking stable, long-term investments.
To summarize, the combination of a median home value of $128,190 and stable rental dynamics points to a market where pricing power remains with the landlord or investor. While rapid appreciation is not likely, the area offers a secure environment for property investment, with potential for gradual value increases and consistent rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.