Location: Pearl River County, MS | Metro: Gulfport-Biloxi, MS HUD Metro FMR Area
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 | $750 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $241,349 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 39470, located in Mississippi, presents a challenging landscape for renters given the median household income of $52,929. The market rate for rent stands at $897, according to the Census Bureau's American Community Survey (ACS), which means that even if all income were dedicated to rent, it would still be difficult for households to afford the average rental property. This is further compounded when considering that the Federal Market Rent (FMR) for the area in fiscal year 2024 is set at $900, which is slightly higher than the current market rate but represents the maximum amount that Housing Choice Voucher holders can receive.
With only 16.9% of the 13,926-person population renting, the competition among landlords is relatively low compared to more densely populated areas. However, the affordability gap between the median income and both the market rate and FMR suggests that many potential tenants will need assistance to cover their rent. This reliance on vouchers and other forms of financial aid can limit the pool of available tenants who are able to pay the full market rate without subsidy.
The takeaway for landlords in ZIP 39470 is that while there is some competition, the alignment of market rates and FMRs indicates that accepting voucher payments can be a viable strategy. It ensures a steady stream of income, albeit at a subsidized rate, and taps into a segment of the market that might otherwise struggle to find housing. For those landlords looking to maximize profits, focusing on cash-paying tenants may be more advantageous, but they should be prepared to cater to a smaller pool of potential renters and possibly offer competitive pricing or amenities to attract them.
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.