Location: Leake County, MS | Metro: Attala County, MS
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 | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,180 | $120,900 | 0.98% | C |
U.S. Census Bureau data (2024)
The ZIP code 39160 presents an interesting scenario for both renters and landlords. The median household income stands at $58,933, which places significant constraints on rental affordability. At the current market rate of $772 per month (as reported by the Census ACS), renting becomes a substantial expense for many households.
Comparatively, the Fair Market Rent (FMR) set by HUD for fiscal year 2026 is $950, indicating a higher benchmark for rental payments. This discrepancy highlights the challenge faced by renters who must navigate between the market rate and the voucher payment standards. A household earning the median income would find it difficult to pay the $950 FMR without financial assistance.
With only 13.0% of the 2,785 population being renters, competition among landlords is likely to be fierce. Landlords will need to carefully consider their pricing strategies to attract tenants. Given the median income, offering rents closer to the market rate of $772 could make properties more accessible to a broader range of potential tenants.
However, the allure of guaranteed payments through vouchers cannot be overlooked. While the $950 FMR represents a higher monthly income, landlords should weigh this against the administrative burden and potential delays associated with voucher programs. Additionally, the demand for lower-cost housing suggests that there might be a larger pool of tenants willing to pay the market rate if it means securing a home without waiting for voucher approval.
Takeaway: For landlords in ZIP 39160, focusing on market-rate rentals could provide a steady stream of tenants given the limited number of renters and the affordability gap. However, participating in voucher programs ensures stable, government-backed income but requires navigating additional bureaucratic processes. Balancing these options based on tenant demand and landlord preferences is key to success in this market.
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.