Location: Jackson, MS | Metro: Jackson, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
Ridgeland, MS, located within the Jackson, MS HUD Metro FMR Area, represented by ZIP code 39157, serves as a cash-flow anchor in a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the area is set at $1320 for fiscal year 2024, which is notably lower than the current market rent of $1414. This creates a positive spread of $94 per unit, ensuring that landlords can maintain steady cash flow while adhering to Section 8 guidelines.
The median home value in the area stands at $286,465, indicating a stable housing market with limited volatility. This stability is further supported by the low 0.2% price-cut share, suggesting that rental properties rarely need to be discounted to attract tenants. Additionally, the average Days on Market (DOM) being N/A implies that properties in this area typically do not remain vacant for extended periods, reducing vacancy costs and improving overall cash flow.
While the renter share at 52.7% and median income at $66,068 might suggest potential for appreciation, the primary role of ZIP 39157 in a Section 8 portfolio is to provide reliable cash flow. The slight difference between FMR and market rents ensures that landlords can cover expenses and make a profit without significant risk. This makes Ridgeland an ideal location for landlords and small-portfolio investors seeking consistent returns rather than speculative growth opportunities.
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.