Location: Jones County, MS | Metro: Covington 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 | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,080 |
| 4 Bedrooms | $1,210 |
| 5 Bedrooms | $1,404 |
| 6 Bedrooms | $1,572 |
| 7 Bedrooms | $1,698 |
| 8 Bedrooms | $1,783 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,080 | $250,679 | 0.43% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 39479 presents a unique opportunity for landlords and small-portfolio investors, with a median home value of $201,725. This figure serves as a foundational metric, indicating the average price point at which homes in this area are currently valued. Despite the median home value being relatively stable, the fact that the percentage of listings reduced is not available suggests that there is little downward pressure on property values. This lack of reduction signals a market where sellers maintain pricing power, potentially leading to steady or slightly rising home values over the next 12-24 months.
The median days on market (DOM) being unreported also points towards a balanced market, where homes are neither lingering on the market nor selling too quickly. A balanced market often supports stable property values, as it indicates that buyers and sellers are finding fair terms without significant delays or rushes.
On the rental side, the Federal Market Rent (FMR) for ZIP 39479 in fiscal year 2024 is projected at $900, while the current market rent stands at $532 according to Census ACS data. This significant gap between FMR and actual market rents suggests an underpriced rental market relative to government standards. As a result, landlords can consider increasing their rental rates to align more closely with the FMR without losing tenants, given the area's affordability and the current low rent levels.
For long-hold investors, the setup in ZIP 39479 implies a realistic appreciation thesis. The combination of a stable median home value, maintained pricing power, and an underpriced rental market suggests that property values could appreciate gradually over time. However, the absence of specific appreciation percentages means that investors should focus on the fundamentals of the local economy, employment rates, and infrastructure improvements to gauge potential growth accurately.
In summary, ZIP 39479 offers a stable environment for real estate investment, with strong signals of pricing power on the sales side and potential for higher rental income on the leasing side. Investors should take advantage of the current conditions to secure properties that can offer both capital appreciation and improved rental yields over the coming years.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.