Location: Gulfport-Biloxi, MS | Metro: Gulfport-Biloxi, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 39534 in fiscal year 2024 is set at $1010. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount that a landlord can receive through the Section 8 program for renting a unit in this area. It is important to note that this is not the rent you will charge your tenants directly; rather, it is the benchmark HUD uses to ensure rents are reasonable and affordable.
In ZIP 39534, the local median gross rent is currently listed as N/A, which makes direct comparisons challenging. However, the fact that the FMR is established at $1010 suggests that this is a fair approximation of market rates for the area, given the lack of specific local data.
The percentage of renters in the area who could potentially qualify for Section 8 based on income levels is N/A%. While this exact figure is unavailable, understanding the demand for affordable housing is crucial. Generally, areas with higher percentages of low-income renters see greater interest in Section 8 programs, indicating a steady stream of potential tenants.
The typical home value in ZIP 39534 is also listed as N/A. For landlords and small-portfolio investors, this information helps gauge the acquisition cost of properties in the area. If you are purchasing a property to enter into the Section 8 program, ensure that the home value aligns with your investment strategy and the projected rental income.
Before committing to a Section 8 rental in ZIP 39534, verify that your property meets the minimum housing quality standards known as the Housing Quality Standards (HQS). These standards ensure that the rental unit is safe, decent, and sanitary. Failure to meet these standards can result in disqualification from the program, so it's critical to confirm compliance.
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.