Location: Warren County, MS | Metro: Yazoo County, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The ZIP code 39162 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, especially when comparing the market rent to the Fair Market Rent (FMR) of $930 for FY 2024. This discrepancy can lead to higher turnover rates, impacting the stability and profitability of rental properties. Vacancy exposure is another critical issue, with an undefined number of days on the market (DOM), which suggests that properties may remain vacant longer than expected, reducing potential income.
Deferred maintenance poses a substantial risk due to the lack of data on typical home values in the area. With a median household income of $119,922, there's a possibility that tenants might not have the financial means to report or cover maintenance issues promptly. This can result in higher repair costs and decreased property value over time if not managed effectively.
Despite these risks, the high concentration of renters—comprising 3.5% of the total population—indicates a robust demand for rental housing. High renter density often translates into increased demand for Section 8 vouchers, making it easier for landlords to find qualified tenants. This demographic trend can mitigate some of the risks associated with tenant turnover and vacancy exposure.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.