Location: Newton County, MS | Metro: Lauderdale County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 39323, which is part of a larger metropolitan area, has been set at $1,240 for fiscal year 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, meaning that landlords who participate in this program will receive a subsidy up to this amount per month from the government. However, it's important to note that this does not necessarily represent the actual rent you can charge your tenants.
In ZIP 39323, the average rent for a two-bedroom apartment is $1,391 according to the latest Census American Community Survey (ACS) data. This indicates that the FMR under Section 8 is slightly below the market rate, leaving room for landlords to potentially charge a higher rent for the voucher holder to make up the difference.
The renter share in this ZIP code stands at 20.0%, which suggests a steady demand for rental properties. With a significant portion of the population renting, there is a consistent need for housing options, including those supported by Section 8 vouchers.
When considering acquiring a property in ZIP 39323 for use in the Section 8 program, you should be aware that the median home value is approximately $150,668. This figure provides a benchmark for the potential purchase price of a home in this area, helping you to assess whether the investment aligns with your financial goals and the expected monthly income from the Section 8 subsidy.
Before you decide to enter the Section 8 market with a property in ZIP 39323, verify that the property meets the minimum property standards required by the housing authority. These standards ensure that the homes are safe, decent, and sanitary for residents, and failing to meet these criteria could result in non-payment or termination of the lease agreement.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.