Section 8 Fair Market Rent (FMR) for ZIP 39347 - 2027

Location: Jasper County, MS | Metro: Clarke County, MS

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$790
2 Bedrooms	$910
3 Bedrooms	$1,160
4 Bedrooms	$1,200
5 Bedrooms	$1,392
6 Bedrooms	$1,559
7 Bedrooms	$1,684
8 Bedrooms	$1,768

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,462

Median Household Income

$49,265

Housing Units

721

Renter Percentage

24.2%

Occupancy Rate

83.8%

Renter Occupied

146

The ZIP code 39347, located in Mississippi, is characterized by a modest housing market that reflects both the regional economic conditions and the availability of affordable housing options. This area offers a mix of rental and ownership opportunities, with a significant portion of residents choosing to rent rather than own their homes.

The Fair Market Rent (FMR) for the metropolitan area in fiscal year 2026 is set at $870, indicating the rental price threshold for moderate-cost housing units.
The average market rent, as reported by the Census American Community Survey (ACS), stands at $500, suggesting that the actual rental prices in the area are below the FMR, which could be due to local supply and demand dynamics.
The median home value in the area is $151,192, which is considerably lower than the national average, making it an attractive option for first-time homebuyers and investors looking for undervalued properties.
Renters make up 24.2% of the housing market in ZIP 39347, highlighting a substantial rental sector that could be beneficial for landlords and investors focused on rental income.
The median household income is $49,265, providing insight into the financial capabilities of potential tenants and homeowners, and suggesting that the housing prices and rents are generally aligned with the earning power of the local population.

The data points above suggest that ZIP 39347 presents a balanced investment opportunity for real estate investors. The disparity between the FMR and the actual market rent indicates a potential for rental income growth if demand increases. The relatively low median home value and median income point towards an area where affordability is key, making it suitable for those seeking to capitalize on first-time buyer or rental markets. With a significant share of renters, the area also offers a robust rental market, though the slow days-on-market (DOM) could indicate challenges in quickly turning over properties. Overall, investors should focus on understanding local trends and the potential for rental rate adjustments as the primary drivers of profitability in this region.

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.