Location: Jones County, MS | Metro: Hattiesburg, MS MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The investment landscape for Section 8 landlords in ZIP code 39464 presents several challenges that must be carefully considered. Tenant turnover is a significant concern, especially when comparing the market rent, which is currently unavailable, to the $900 Fair Market Rent (FMR) set for fiscal year 2024. This discrepancy can lead to frequent changes in occupancy, increasing management costs and potentially reducing overall profitability.
Vacancy exposure is another issue, as the Days on Market (DOM) figure is also not available. However, this lack of data suggests potential difficulties in quickly filling vacancies, which can be costly for landlords. The typical home value in this area stands at $173,738, while the median household income is $71,875. These figures indicate that there may be deferred maintenance issues, as many residents might struggle to afford necessary repairs, leading to higher maintenance costs for landlords.
Despite these risks, the 12.7% renter share in ZIP 39464 provides a silver lining. High renter density typically correlates with increased demand for housing vouchers, such as Section 8. This means that landlords in this area can expect a steady stream of tenants who are financially backed by the government, ensuring consistent rental income. Additionally, the presence of a substantial number of renters can help mitigate some of the risks associated with vacancy and turnover, as there is likely a robust pool of potential voucher holders.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 39464 is moderate. While there are notable challenges, the high renter density offers a solid foundation for attracting tenants through government-assisted programs.
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.