Section 8 Fair Market Rent (FMR) for ZIP 39283 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 39283, located in Mississippi, offers a unique opportunity for real estate investors interested in the Section 8 housing market. The area is characterized by stable demand for affordable housing, making it a suitable location for those looking to invest in properties that cater to low-income families.

• Fair Market Rent (FMR) for ZIP 39283 in fiscal year 2024 is set at $1130. This figure represents the maximum amount landlords can charge for a Section 8 rental unit in the area, providing a clear benchmark for rental pricing.
• The market rent for the area is currently unavailable. This lack of data makes it difficult to compare the FMR with what non-subsidized tenants might pay, but it underscores the importance of staying informed about local trends.
• The median home value in ZIP 39283 is also not available. Without this information, it's challenging to assess how property values might affect investment decisions outside of the rental market.
• Renter share data is not available for this ZIP code. This statistic would normally indicate the percentage of residents who are renters, which is crucial for understanding the overall demand for rental properties.
• The days on market (DOM) data is not available. This metric typically shows how long it takes for a property to be rented out, which is important for gauging the speed of occupancy and potential cash flow.
• The median household income for the area is not available. This figure would help investors understand the economic profile of the community and the potential for rental subsidies beyond Section 8.

In summary, while there are some key data points missing, such as market rent and median home value, the established Fair Market Rent at $1130 for ZIP 39283 in fiscal year 2024 provides a solid foundation for setting rental rates. Investors should focus on properties that meet the size and quality requirements for Section 8 eligibility and aim to keep rents close to this benchmark to maximize participation in the program. Due to the lack of comprehensive local market data, thorough research and networking within the local real estate community will be essential to make informed investment decisions. Despite these limitations, the stable demand for affordable housing suggests that the area could offer steady returns for those willing to navigate the data gaps.

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.