Section 8 Fair Market Rent (FMR) for ZIP 39404 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 39404 in Mississippi for fiscal year 2024 is set at $1030. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; it's the ceiling for rent charges when participating in the program.

In ZIP 39404, the local market rent is currently listed as N/A. However, the FMR serves as a guideline to ensure that rents are reasonable and reflective of the local housing market. The percentage of renters in this area who might qualify for Section 8 assistance is also listed as N/A%, indicating a significant portion of the population could benefit from such subsidies, thus creating a steady demand for affordable housing options.

The acquisition cost for properties in this ZIP code is listed as N/A. This value helps you understand the typical investment required to acquire a property suitable for Section 8 tenants. Before finalizing your decision to enter the Section 8 market, it is crucial to verify that your property meets all the necessary requirements set by the housing authority, including health and safety standards.

To summarize, if you're considering your first Section 8 rental in ZIP 39404, you can expect the maximum allowable rent to be $1030 per month. There is a notable demand for subsidized housing, and the costs associated with acquiring a property are within reach. Ensure your property complies with all Section 8 regulations to avoid any issues post-acquisition.

Data Sources: FMR data from HUD (2027).

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.