Section 8 Fair Market Rent (FMR) for ZIP 39282 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 39282, located in Jackson County, Mississippi, are defined by the federal government's rental assistance program, which uses the SAFMR (Small Area Fair Market Rent) for setting payment standards. For a two-bedroom apartment in this ZIP code, the SAFMR for fiscal year 2026 is set at $1,250 per month. This figure represents the maximum amount that the housing authority will pay to landlords on behalf of eligible tenants.

The SAFMR is specific to this ZIP code, meaning it reflects the local rental market conditions more accurately than a broader metro or county-wide average. However, the local market rent data for ZIP 39282 is currently unavailable, which makes direct comparisons challenging. To understand the financial implications for landlords, it’s crucial to factor in both the tenant contribution and any utility allowances.

Tenants participating in the Section 8 program are typically required to contribute 30% of their adjusted income towards rent. This amount can vary based on individual circumstances but generally remains consistent around this percentage. Utility allowances are additional payments made by the housing authority to cover certain utilities, such as electricity, gas, and water. These allowances are not included in the SAFMR and can range depending on the tenant's needs and local utility costs.

Once these elements are considered, landlords receive the difference between the SAFMR and the tenant’s contribution. If a tenant’s share is $375 (assuming an adjusted income of $1,250), the landlord would receive $875 from the housing authority plus the utility allowance. It’s important to note that the utility allowance is not fixed and can vary, but it adds to the total reimbursement received by the landlord.

To illustrate, if the utility allowance averages around $100 per month, the landlord would receive a total of $975 per month for a two-bedroom unit. This means the landlord would be reimbursed $1,250 minus the tenant’s contribution of $375, plus an additional $100 for utilities, resulting in a total reimbursement of $975. Given the SAFMR of $1,250, landlords might experience a surplus if the local market rent is below this level, or a gap if market rents exceed $1,250.

In ZIP 39282, without specific local market rent data, we cannot determine the exact surplus or gap. However, landlords should be aware that the reimbursement structure under Section 8 ensures they receive a stable, albeit potentially lower, rent compared to market rates. This stability can be beneficial for managing cash flow and ensuring timely rent payments.

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.