Location: Wayne 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $950 | $110,579 | 0.86% | C |
| 3BR | $1,220 | $159,922 | 0.76% | D |
| 4BR | $1,250 | $235,317 | 0.53% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 39476, Richton, Mississippi, presents a nuanced scenario for landlords and small-portfolio investors. With a median home value of $157,025, the area reflects a relatively affordable housing market, but the absence of specific percentages regarding reduced listings and days on market (DOM) suggests a stable pricing environment. This stability indicates that landlords have moderate pricing power, as there is neither significant upward nor downward pressure on property values.
On the rental side, the Fair Market Rent (FMR) for ZIP 39476 in fiscal year 2024 is set at $910, while the current market rent stands at $735 according to the Census ACS. This gap between FMR and actual market rents signals potential growth for rental income. Landlords can expect to gradually increase rents toward the FMR level, which could provide a steady rise in rental yields over the next 12 to 24 months.
For long-term investors, the setup in ZIP 39476 implies a realistic appreciation thesis based on economic fundamentals and demographic trends. The current median home value and rental market conditions suggest that as the local economy grows and attracts new residents, demand for housing will likely increase, driving up both home values and rental rates. However, without specific data on population growth, job creation, and other economic indicators, the appreciation rate cannot be precisely quantified. What can be stated is that the market conditions support gradual appreciation rather than rapid increases, making it a suitable location for those looking to build long-term equity through property ownership.
In summary, ZIP 39476 offers a balanced real estate market with opportunities for both homeowners and renters. Landlords should capitalize on the growing rental market by aligning their rents with the FMR, while small-portfolio investors can anticipate moderate appreciation in property values over the next couple of years. This setup provides a solid foundation for generating steady returns through both capital appreciation and rental income.
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.