Location: Greene County, MS | Metro: Hattiesburg, MS MSA
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 | $700 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $146,282 | 0.83% | C |
U.S. Census Bureau data (2024)
ZIP code 39423, located within the Greene County, MS metro, presents a unique profile compared to typical ZIP codes in the area. The Fair Market Rent (FMR) for 39423 is set at $990 for fiscal year 2024, which is notably higher than the market rent figure of $359. This discrepancy suggests that while the official rental guidelines are higher, actual market conditions might be more favorable for both landlords and tenants.
The median home value in ZIP 39423 stands at $131,985, indicating a middle-of-the-road property price point relative to the broader Greene County, MS metro. Home values can vary widely across different ZIP codes within the same county, but this figure places 39423 squarely in the mid-tier range, offering a balance between affordability and investment potential.
The renter share in 39423 is 6.8%, which is relatively low compared to what might be considered a 'sweet spot' for Section 8 properties. Typically, a higher renter share alongside lower-than-average home values would signal an area ripe for Section 8 investments. However, given the higher FMR relative to the market rent, landlords in this ZIP code should still find opportunities to attract Section 8 tenants while maintaining competitive rental rates.
Based on the provided figures, ZIP 39423 appears to be a mid-tier neighborhood within the Greene County, MS metro. It offers a moderate home value that aligns well with the average investor's expectations, while the elevated FMR provides a buffer against market fluctuations. The relatively low renter share means it is not a primary target for Section 8 tenants, but the combination of factors makes it a stable option for those interested in the program.
To further contextualize the position of 39423 within Greene County, MS, a deeper analysis of surrounding ZIP codes would reveal how this area stacks up against others in terms of rental demand and property values. Landlords and investors looking to maximize their returns should consider the broader economic trends affecting the county and how they impact ZIP 39423 specifically.
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.