Location: Lauderdale County, MS | Metro: Lauderdale County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
The ZIP code 39302 in Unknown, MS presents several challenges for potential Section 8 landlords. First, the tenant turnover rate could be higher due to the discrepancy between the market rent and the Fair Market Rent (FMR) set at $910 for FY 2026. This gap can lead to difficulties in attracting tenants willing to pay the market rate, thus increasing reliance on subsidized housing vouchers.
Vacancy exposure is another significant risk factor. The average Days on Market (DOM) is not available, which makes it difficult to predict how long properties might remain vacant. A prolonged period without tenants can strain cash flow and reduce profitability. Additionally, the lack of data on typical home values and median incomes in the area suggests a potential issue with deferred maintenance. Properties in areas with lower incomes and less investment may require more upkeep, leading to higher costs for landlords.
However, these risks must be weighed against the high percentage of renters in the area. While the exact figure is not provided, a high renter share typically indicates strong demand for rental properties, including those that accept Section 8 vouchers. This demand can help mitigate some of the risks associated with vacancy and tenant turnover.
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.