Location: Franklin County, MS | Metro: Franklin County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 39630 are defined by the SAFMR (Small Area Fair Market Rent) which for a two-bedroom apartment is set at $850 per month for fiscal year 2026. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards a tenant's rent in this specific ZIP code.
To understand what this means for landlords, it's important to break down the components of a voucher payment. The total rent for a unit under a Section 8 voucher is split into three parts: the tenant's contribution, the utility allowance, and the voucher reimbursement to the landlord. The tenant's contribution is typically 30% of their adjusted income, which varies depending on the individual's financial situation.
The utility allowance is an additional sum provided to cover utilities, but since the local market rent for ZIP 39630 is not available, we can't provide a specific figure here. However, it's crucial to note that the utility allowance is separate from the SAFMR and is added to the landlord's reimbursement.
Once these factors are accounted for, the landlord receives the difference between the SAFMR and the tenant's contribution, plus any utility allowance. For example, if a tenant contributes $255 (assuming a 30% contribution based on an adjusted income), and the utility allowance is $100, then the landlord would receive $795 ($850 - $255 + $100).
This calculation shows that landlords in ZIP 39630 can expect a reimbursement slightly below the SAFMR when the tenant's contribution and utility allowance are considered. Given that the SAFMR is $850 and assuming a conservative utility allowance, landlords should anticipate a reimbursement gap where they might receive less than the full SAFMR amount.
In summary, the typical reimbursement for a two-bedroom apartment in ZIP 39630 under a Section 8 voucher will result in a gap between the SAFMR and the actual amount received by the landlord. Landlords must carefully consider their costs and desired profit margins when deciding whether to participate in the Section 8 program in this area.
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.