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 ZIP code 39284 in Unknown, MS, presents several challenges for potential Section 8 landlords. Tenant turnover is a significant concern due to the discrepancy between the market rent and the Fair Market Rent (FMR) of $1130 for FY 2024. Landlords may find it difficult to maintain occupancy at the lower FMR rate, leading to higher vacancy rates. Vacancy exposure is also heightened given the lack of data on days on market (DOM), which suggests an unstable rental market where properties might remain vacant longer than expected.
Furthermore, the absence of information on typical home values and median incomes indicates a potential risk for deferred maintenance. Without knowing the financial capacity of local residents, landlords cannot accurately assess whether tenants will have the resources to take care of the property or report necessary repairs promptly. This uncertainty can lead to costly maintenance issues over time if not properly managed.
Despite these risks, the high renter share in the area suggests strong demand for rental housing, including Section 8 vouchers. High renter density typically translates into a larger pool of potential tenants, which can mitigate some of the risks associated with vacancy and turnover. However, the lack of specific data points makes it challenging to quantify this benefit precisely.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.