Location: Walthall County, MS | Metro: Marion County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
U.S. Census Bureau data (2024)
In ZIP code 39478, the economics of Section 8 vouchers can be explained using the SAFMR (Small Area Fair Market Rent) and local market rent figures. For a two-bedroom apartment, the SAFMR for FY 2026 is set at $940. This figure represents the maximum amount that a landlord can receive from the housing authority for a Section 8 tenant in this specific ZIP code.
The local market rent for a two-bedroom unit, based on Census ACS data, is $1,114. This indicates that without a voucher, landlords could potentially charge tenants up to this amount. However, when a tenant uses a Section 8 voucher, the payment structure changes. The tenant is responsible for paying 30% of their adjusted income towards rent, plus any applicable utility allowances. For example, if a tenant's monthly adjusted income is $1,500, they would pay $450 towards rent ($1,500 x 0.3).
To determine the exact reimbursement, subtract the tenant's portion from the SAFMR. In this case, the landlord would receive $940 from the housing authority, minus the $450 paid by the tenant, resulting in a net reimbursement of $490. If there are utility allowances, these are added to the landlord's reimbursement. Let's assume an average utility allowance of $200; the total reimbursement to the landlord would then be $690 per month.
This means that the landlord will have a reimbursement gap of $424 per month. To calculate this, subtract the total reimbursement ($690) from the local market rent ($1,114). Therefore, landlords should carefully consider whether they are willing to accept a lower rental income when participating in the Section 8 program in ZIP 39478.
While the SAFMR ensures that landlords are compensated at a level that reflects the cost of housing in this specific ZIP code, it does not always match the local market rent. Landlords must weigh the benefits of guaranteed payments against the potential financial shortfall when deciding to participate in Section 8 for a two-bedroom property.
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.