Location: Smith County, MS | Metro: Smith County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,080 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 39153 in fiscal year 2026 is set at $860. This figure represents the payment standard for Section 8 housing vouchers in the area. It's important to note that this amount is what the government will pay towards your tenant's rent, not necessarily the total rent you can charge.
In comparison, the average rent for the area based on recent Census American Community Survey data is $636. The gap between the FMR and the local average rent suggests that landlords participating in the Section 8 program could potentially receive a higher rent subsidy than the typical market rate, which benefits both the landlord and the tenant.
The 17.1% share of renters in the area indicates a moderate demand for rental properties. While it's not a high percentage, it does mean that there are enough potential tenants to consider this ZIP code for a Section 8 rental. With an estimated median home value of $146,415, the acquisition cost for a property in this area is relatively affordable compared to other markets, making it a good entry point for first-time Section 8 landlords.
Before deciding to participate in the Section 8 program with a property in ZIP 39153, verify that the property meets all the required inspection standards set by the local housing authority. This ensures that you will be able to qualify for the program without facing unexpected costs or delays.
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.