Location: Smith County, MS | Metro: Simpson County, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The ZIP code 39119 is a modestly-sized rental market with a population of 5,739 individuals. Among these residents, 21.9% are renters, indicating a significant but not overwhelming portion of the population relies on rental housing. The median household income stands at $49,766, which provides a baseline for understanding the economic context of potential tenants.
In terms of rental affordability, the average market rent of $673 represents approximately 13.5% of the median household income. This suggests that while rent is a considerable expense, it is still manageable for many households without relying heavily on housing assistance programs. However, the Federal Market Rent (FMR) for the area is set at $900 for fiscal year 2024, which is notably higher than the current market rate. This discrepancy highlights the potential for Section 8 vouchers to play a substantial role in the local rental market.
The difference between the market rent and the FMR indicates that there could be a deep demand for vouchers among renters in 39119. Landlords can expect a mix of tenants who either fully or partially rely on Section 8 vouchers to cover their rent. These tenants will likely have a strong interest in finding stable housing within their budget constraints, making them potentially reliable and long-term occupants.
To summarize, ZIP 39119 is characterized by a moderate share of renters who are sensitive to housing costs, given the local income levels. With the FMR being significantly higher than the actual market rent, landlords should anticipate a robust demand for rental properties that accept Section 8 vouchers. Tenants here will predominantly be those who require financial assistance to afford housing, emphasizing the importance of compliance with HUD regulations and maintaining quality living conditions to attract and retain such tenants.
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.