Location: Pascagoula, MS | Metro: Pascagoula, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
The Fair Market Rent (FMR) for ZIP code 39569 in Mississippi for fiscal year 2024 is set at $1080. This figure represents the maximum amount that a landlord can receive through the Section 8 program for renting a unit in this area. It's important to note that this is not the rent you would charge your tenants; rather, it's the payment standard used by the Housing Choice Voucher Program to determine the subsidy amount.
While the local median rent is listed as N/A, the FMR provides a benchmark for rental properties participating in Section 8. The percentage of renters in the area is also listed as N/A, which suggests that there isn't enough data to make a precise estimate. However, the demand for affordable housing is typically high, especially in areas where the cost of living is relatively low compared to income levels.
The acquisition cost for properties in this ZIP code is also listed as N/A, indicating that there isn't sufficient information available on average property prices. Nonetheless, landlords should consider the FMR when evaluating potential returns on investment. Since the Section 8 payment standard is $1080, ensure that the rent you charge does not exceed this amount to avoid losing the subsidy.
Before proceeding with your first Section 8 rental in ZIP 39569, verify that your property meets all the required standards set by the local housing authority. These standards include safety, health, and habitability criteria, and failing to meet them could result in disqualification from the program. Once confirmed, you can confidently move forward with the application process, knowing that you have a clear understanding of the financial parameters involved.
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.