Location: Hattiesburg, MS | Metro: Hattiesburg, MS MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $900 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
Skeptical investors often question whether investing in ZIP 39406, located in Hattiesburg, Mississippi, is financially viable. They raise concerns about covering mortgages, meeting renter demand, and keeping pace with market rents using housing vouchers. Here's how the data addresses these points:
Will FMR $1000 (zip FY 2024) cover the mortgage on a home? Data on average home prices in ZIP 39406 is currently unavailable, making it difficult to calculate exact mortgage coverage based on the Fair Market Rent (FMR) of $1000. However, knowing the median home value in Hattiesburg is below the national average suggests that the cost of homeownership could be manageable. To accurately assess mortgage coverage, one would need to consult local real estate agents or use specific mortgage calculators.
Is there enough renter demand at 1000% occupancy rate? There is no data indicating an occupancy rate of 1000%, which is not possible. Instead, the search reveals a lack of specific rental demand figures for ZIP 39406. However, the presence of rental listings on platforms like Trulia indicates some level of demand. For a more precise analysis, consulting local real estate agents or examining rental vacancy rates would provide better insight into the actual demand.
Will vouchers keep pace with market rents? Again, specific market rent data for ZIP 39406 is not available. But, given that the overall cost of living in Hattiesburg is 22.6% lower than the national average, it's reasonable to assume that market rents might also be lower. The FMR set at $1000 suggests that voucher amounts are likely to be sufficient for most units in the area. However, to ensure that vouchers will indeed keep pace with local market conditions, one should check with local housing authorities for recent trends and adjustments.
In summary, while the data does not fully address all objections, it suggests that investing in ZIP 39406 could be financially viable due to potentially lower costs compared to the national average. For detailed financial planning, consulting local real estate professionals and housing authorities is recommended.
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.