Location: Jones County, MS | Metro: Jones 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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $164,164 | 0.74% | D |
U.S. Census Bureau data (2024)
41.7% of residents in ZIP code 39440 are renters, indicating a strong demand for rental properties in the area. This high renter share aligns well with the $917 market rent reported by the Census Bureau's American Community Survey, which reflects the average rent paid by tenants in the region. For comparison, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960, suggesting that rental properties priced slightly above the market average can still attract tenants without significant resistance.
The median home value in ZIP 39440 stands at $112,692, providing a solid foundation for investment in residential real estate. Despite this, the median income of $46,947 might pose challenges for some potential homeowners, thereby supporting the continued reliance on rental housing. The absence of data regarding the days on market (DOM) and the low price-cut share of 0.2% indicate that homes in this area are generally selling quickly and without the need for significant price adjustments, which is positive for both property values and investor returns.
Given these figures, landlords and small-portfolio investors should find the ZIP 39440 market favorable for rental investments, especially those that aim to capture the middle range of the rental market. Properties priced around the FMR of $960 will likely remain competitive and attractive to the substantial renter base. However, the relatively low median income means that there could be a limit to how much rents can rise before they become unaffordable for many tenants, making it important to maintain rents close to the market average of $917.
For Section 8 investors, the ZIP code offers a mix of opportunities and considerations. With the high renter share and the alignment between market rents and FMRs, Section 8 contracts at $960 per month can provide stable income while ensuring that rents remain within reach for many local residents. Yet, the low median income also suggests that there may be a higher demand for subsidized housing, meaning investors should be prepared to manage properties under the guidelines of the Section 8 program.
Section 8 verdict: Suitable for investors seeking stable, middle-range rental income with a manageable tenant pool.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.