Location: Gulfport-Biloxi, MS | Metro: Gulfport-Biloxi, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
The market in ZIP 39533, located in Mississippi, presents a unique dynamic where the Federal Market Rent (FMR) stands at $1160 for the fiscal year 2024. This figure serves as a benchmark for assessing the overall rental cost in the area, particularly relevant for those involved in Section 8 housing programs.
Absent specific market rent data, it's challenging to determine if supply is currently outpacing demand or vice versa. However, the fact that the FMR is set indicates a level of regulatory oversight aimed at ensuring affordable housing options are available to low-income renters. The lack of detailed metrics such as the percentage of price-cut share and days on market (DOM) suggests a less competitive environment, where landlords might have more stable tenancies without needing to adjust rents frequently to attract tenants.
The absence of a median home value and a precise renter share percentage further complicates a direct analysis of housing pressures. Typically, a higher renter share can indicate potential long-term housing pressure, as it signals a larger proportion of the population renting rather than owning homes. In ZIP 39533, this could mean that homeownership is relatively high, reducing immediate competition for rental properties. Alternatively, it could suggest that the rental market is underdeveloped or that there is insufficient data to make a definitive assessment.
In summary, ZIP 39533 operates within a defined framework for affordable housing, with an FMR of $1160 guiding rental costs. The lack of certain market indicators points towards a potentially stable but less competitive rental sector, which may benefit small-portfolio investors looking for steady returns. Landlords should remain attentive to local trends and policy changes that could impact the rental market's dynamics.
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.