Location: Wayne County, MS | Metro: Clarke 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 | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,180 | $208,840 | 0.57% | F |
U.S. Census Bureau data (2024)
In ZIP code 39367, there are several potential risks for landlords considering Section 8 investments. Tenant turnover is a significant concern due to the disparity between the market rent of $765 and the Fair Market Rent (FMR) of $870 for fiscal year 2026 in the metropolitan area. This gap can lead to higher turnover rates as tenants seek properties that offer the full FMR subsidy.
Vacancy exposure is another critical issue. With no available data on days on market (DOM), it's difficult to predict how long properties might remain vacant. High vacancy rates can be financially detrimental, especially if rental income is lower than market rates.
The deferred maintenance exposure is also noteworthy. The typical home value in the area is $141,329, while the median household income is $37,409. These figures suggest that homeowners might struggle to maintain their properties adequately, potentially leading to subpar living conditions and increased scrutiny from housing authorities.
However, these risks must be weighed against the high concentration of renters in the area. With a 16.9% renter share, there is likely to be a strong demand for rental properties, particularly those that accept Section 8 vouchers. A high number of renters typically indicates robust voucher utilization, which can provide a steady stream of tenants and reduce the likelihood of prolonged vacancies.
In conclusion, despite the challenges posed by tenant turnover, vacancy exposure, and deferred maintenance, the high renter density in ZIP 39367 supports a moderate level of risk for a first-time Section 8 landlord. The demand for affordable housing is likely to offset some of the financial and maintenance risks associated with this type of investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.