Location: Marion 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 | $810 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $257,855 | 0.56% | F |
| 5BR | $1,763 | $210,635 | 0.84% | C |
U.S. Census Bureau data (2024)
The ZIP code 39482, located within the Marion County, MS metro, has a Federal Market Rent (FMR) of $1010 for fiscal year 2024. This is notably higher than the market rent of $916, indicating that properties here might be slightly overpriced compared to what the market would naturally bear without government subsidies.
The median home value in ZIP 39482 is $259,475, which aligns closely with the typical home values seen across other ZIP codes in Marion County, MS. This suggests that the area is neither significantly undervalued nor overvalued when considering property prices alone.
With a renter share of 12.2%, ZIP 39482 has a lower proportion of renters compared to some other areas in Marion County. However, the combination of a below-metro median home value and a notable renter share can sometimes indicate an area where Section 8 housing vouchers are prevalent. This is because such areas attract renters who rely on government assistance due to the relatively affordable housing costs.
To determine if ZIP 39482 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider the overall context. Given that the FMR exceeds the market rent and the home values are average, it leans towards being a value pocket. The higher FMR relative to market rent means landlords could benefit from the subsidy, while the average home values suggest they won't be paying a premium to invest in this area.
Landlords and small-portfolio investors should note the following:
The higher FMR compared to the market rent provides an opportunity to receive above-average rental income through Section 8 participation.
Average home values imply that investment in this ZIP code won't require a significant capital outlay beyond what is typical for the county.
A lower-than-average renter share might indicate a less crowded market for subsidized housing, potentially offering more control over tenant selection.
The divergence between the FMR and market rent, coupled with the average home values, suggests that ZIP 39482 could indeed represent a strategic investment location within Marion County, MS, particularly for those interested in Section 8 properties. It's not a premium sub-market, but it offers a balance that can be advantageous for investors seeking to leverage government subsidies without incurring higher acquisition costs.
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.