Location: Stone County, MS | Metro: Stone County, MS HUD Metro FMR Area
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 | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,160 | $233,446 | 0.5% | F |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 39561 reveal a market in motion, characterized by the interplay between rental and homeownership trends. The Fair Market Rent (FMR) for the area stands at $1090 for the fiscal year 2024, while the actual market rent is slightly lower at $903 according to the latest Census American Community Survey (ACS) data. This suggests that there might be some downward pressure on rents, indicating either an oversupply of rental units or strong competition among landlords.
The median home value in the region is $218,024. However, without specific percentages for price-cut shares and days on market (DOM), it's challenging to determine if the housing market is experiencing a slowdown or if homes are selling quickly. The data provided does not indicate any significant trend in these metrics, but the gap between FMR and market rent could imply that the rental market is adjusting to the realities of supply and demand.
A key factor in understanding the long-term housing pressures in ZIP 39561 is the 22.3% renter share. This figure suggests that nearly a quarter of the population relies on rental housing, which can be indicative of a variety of underlying conditions such as affordability issues, job instability, or a preference for renting over buying. A higher renter share often points to a greater need for affordable housing solutions, which can create ongoing pressure on both the rental and sale markets.
In conclusion, ZIP 39561 presents a scenario where the rental market appears to be adjusting to supply dynamics, with market rents below the FMR. The substantial renter share highlights a persistent demand for rental properties, which landlords and small-portfolio investors should consider when evaluating their investment strategies. The median home value offers insight into the overall affordability of homeownership in the area, but the lack of detailed supply and demand indicators makes it difficult to draw definitive conclusions about the balance between the two markets.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.