Location: Jackson, MS | Metro: Jackson, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
The Fair Market Rent (FMR) for ZIP code 39225 in Unknown, Mississippi, for fiscal year 2024 is set at $1130. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; rather, it is the benchmark used by the government to determine what is considered a fair market rate for rental units in the area.
While the local median rent for ZIP 39225 is listed as N/A, the FMR serves as a guideline for what you can expect to be reimbursed through the voucher program. The percentage of renters in the area who rely on housing assistance is also noted as N/A%, which suggests a significant portion of potential tenants might be looking for Section 8 properties. However, without specific figures, we cannot provide an exact comparison between the FMR and typical rents.
In terms of property acquisition, the average home value in ZIP 39225 is listed as N/A. This means that if you are looking to purchase a property specifically for a Section 8 rental, you should use the FMR to calculate your potential return on investment. For instance, if you buy a property and aim to rent it out for $1130 per month, you need to ensure that this amount covers your mortgage, maintenance, insurance, and other expenses associated with owning and renting out a property.
To proceed with confidence, verify that your property meets the minimum standards set by the U.S. Department of Housing and Urban Development (HUD). These standards ensure that the rental unit is safe, decent, and sanitary. Failure to meet these criteria could result in rejection by the housing authority, which would mean you won't be able to participate in the Section 8 program with this property.
In summary, the FMR of $1130 is the ceiling for rent charges under Section 8 in ZIP 39225. It does not reflect the local median rent or the average home value, both of which are currently unavailable. Nonetheless, it provides a critical benchmark for financial planning. Before finalizing your decision, make sure your property complies with HUD's minimum standards to avoid any complications.
Data Sources: FMR data from HUD (2027).
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.