Location: Wayne County, MS | Metro: Greene County, MS
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,420 | $155,628 | 0.91% | C |
U.S. Census Bureau data (2024)
The ZIP code 39362, located within the Wayne County, MS metro area, presents an interesting profile when compared against typical ZIP codes in the same county. With a Fair Market Rent (FMR) of $1,260 for fiscal year 2026, it aligns closely with the metro's average FMR, indicating that rental prices are neither significantly higher nor lower than the surrounding areas.
The absence of specific market rent data for ZIP 39362 suggests that rental pricing may be less volatile or less tracked compared to other ZIP codes in the county. However, the home value at $140,731 is a key figure that can provide insights into the overall real estate market. This figure represents a median home value, which is essential for understanding the typical property value in the area.
A noteworthy aspect of ZIP 39362 is its 18.9% renter share, which indicates a significant portion of residents are renters. This percentage is higher than what might be seen in many other ZIP codes within Wayne County, suggesting a robust demand for rental properties. The combination of a high renter share and a below-metro average home value can signal a potential sweet spot for Section 8 investments.
To further contextualize, let us consider Wayne County's typical ZIP codes. While specific comparative data is not provided, we can infer that if other ZIP codes have higher home values and lower renter shares, then ZIP 39362 stands out as a value pocket. Landlords and small-portfolio investors looking to capitalize on the government-subsidized housing program should take note of this ZIP code due to its favorable conditions for Section 8 tenants.
In summary, ZIP 39362 appears to be a value pocket within the Wayne County, MS metro area, characterized by its alignment with the metro's average FMR, a below-average home value, and a notably higher renter share. These factors make it an attractive location for those interested in Section 8 real estate opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.