Location: Newton County, MS | Metro: Jasper County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 39332 reveals several potential challenges that could impact a landlord's financial stability. Firstly, tenant turnover is likely to be higher due to the disparity between the market rent at $989 and the Fair Market Rent (FMR) at $910 for fiscal year 2026 in the metropolitan area. This difference suggests that tenants might struggle to afford the market rent, leading to frequent moves and increased vacancy periods.
Vacancy exposure is another significant concern. The days on market (DOM) data is currently unavailable, which makes it difficult to predict how long a property might remain vacant. A prolonged vacancy can lead to substantial financial losses, especially if the landlord is reliant on rental income to cover mortgage payments and other expenses.
Deferred maintenance is also a risk factor. With a typical home value of $166,174 and a median income of $65,286, residents may find it challenging to invest in significant repairs or upgrades. Landlords should anticipate the need to maintain properties to meet Section 8 standards, which can be costly. The discrepancy between home values and median incomes indicates that many residents might not have the financial resources to contribute to such maintenance efforts.
Despite these risks, the high renter share of 26.8% provides a solid foundation for demand. High renter density typically translates into greater demand for housing vouchers, which can stabilize rental income for landlords participating in the Section 8 program. The presence of a large number of renters increases the likelihood of finding eligible tenants who can utilize vouchers to cover their rent, thereby reducing the landlord's exposure to vacancy and turnover risks.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 39332. While there are notable challenges, the high renter share offers a promising counterbalance to the risks posed by tenant turnover and maintenance costs.
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.