Section 8 Fair Market Rent (FMR) for ZIP 39502 - 2027

FY 2027 Fair Market Rent Rates

The median household income in ZIP 39502, Gulfport, MS, is $64,502. Despite this figure being 100% higher than the state average, it still presents a challenge when considering the median rent of $1,832. This places significant pressure on households, especially when compared to the Fair Market Rent (FMR) set at $1,160 for the fiscal year 2024.

The affordability gap is stark. A household earning the median income would struggle to cover the market rate rent, which is nearly double the FMR. This suggests a strong reliance on government assistance for many residents.

About 59.5% of the population are renters, indicating a substantial portion of the community relies on rental properties. Given the median income and median rent, there is a notable disparity between what residents can afford and the actual market rates, leading to intense competition among landlords who accept vouchers versus those who prefer cash-paying tenants.

For landlords considering their strategy, accepting voucher payments can ensure steady income and reduce vacancy rates, despite the lower rent amount. However, cash-paying tenants offer higher immediate returns but may be harder to come by given the economic realities faced by many residents in 39502.

The takeaway for landlords is clear: while cash-paying tenants might offer better short-term financial gains, the reality of the affordability gap means that focusing on voucher acceptance could stabilize long-term occupancy and profitability. Balancing both strategies may be necessary to navigate the complex rental market dynamics in Gulfport, MS.

Data Sources: FMR data from HUD (2027).

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.