Location: Gulfport-Biloxi, MS | Metro: Gulfport-Biloxi, MS HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The analysis for ZIP code 39572 reveals a significant gap between the HUD Fair Market Rent (FMR) and the actual market rent. The FMR for FY 2024 is set at $1130, while the latest market rent data for 2026 indicates an average of $985 for a 1-bedroom apartment. This means the FMR is $145 higher than the market rent, representing a 14.7% premium.
In this context, where only 8.2% of residents are renters, landlords can leverage this premium to create a yield play. Voucher tenants, supported by the Section 8 program, will pay the FMR rate of $1130, which is above the market rate. This allows landlords to achieve a higher return on investment compared to open-market tenants who would likely pay less.
The median home value in ZIP 39572 is $157,038, indicating that the area is relatively affordable. However, the median income stands at $44,786, suggesting that many residents might struggle to afford even the market rent of $985 without financial assistance. Landlords should consider the potential benefits of accepting voucher tenants, as they provide a guaranteed income stream at rates above the current market conditions.
Moreover, the recent rise in rents of 4.6% year-over-year highlights the growing demand for rental properties in the area. Accepting Section 8 tenants could be a strategic move for landlords looking to capitalize on this trend while providing stable, below-market-rate housing options for those in need.
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.