Location: Sharkey County, MS | Metro: Issaquena County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,210 |
| 5 Bedrooms | $1,404 |
| 6 Bedrooms | $1,572 |
| 7 Bedrooms | $1,698 |
| 8 Bedrooms | $1,783 |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 39159 present a market in flux, influenced by the interplay between rental costs and homeownership values. With a Fair Market Rent (FMR) set at $840 for fiscal year 2026, the federal benchmark indicates a higher threshold for rental affordability compared to the actual market rent of $564, as reported by the Census Bureau's American Community Survey (ACS).
The median home value in ZIP 39159 stands at $113,528. This figure suggests that homeownership is relatively accessible, yet the high FMR relative to the market rent implies that rental properties may be more financially attractive for many residents. The lack of specific data on price-cut shares and days on market (DOM) makes it challenging to definitively state whether supply outpaces demand or vice versa, but the gap between FMR and market rent hints at potential oversupply in the rental sector.
A noteworthy statistic is the 34.7% share of renters in the area. This percentage signals a significant portion of the population preferring or needing to lease rather than own their homes. Such a high renter share can indicate long-term housing pressure, as it reflects a sustained demand for rental properties over homeownership. It also suggests that there could be economic factors making homeownership less attainable for a large segment of the population, or lifestyle choices favoring renting.
In summary, ZIP 39159 is characterized by a rental market that is below the federal benchmark, suggesting potential oversupply or competitive pricing among landlords. The substantial renter share points to ongoing pressures in the housing market, likely due to economic conditions or personal preferences that favor leasing over purchasing a home. Landlords and small-portfolio investors should consider these factors when evaluating the potential returns and risks associated with properties in this ZIP code.
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.