Location: Pike County, MS | Metro: Pike County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
The ZIP code 39635 presents a dynamic rental market, particularly concerning the Section 8 program. The Fair Market Rent (FMR) for the area is set at $990 for fiscal year 2026, indicating a baseline expectation for rental costs that align with government assistance levels. Despite the lack of specific market rent data, the absence of significant price cuts and short days on market (DOM) suggest a relatively stable environment where landlords can maintain their asking rents without major adjustments.
The median home value being listed as N/A implies that there may be limited data available regarding homeownership in the area, which could indicate a predominantly rental market or an underreported statistic. This ZIP code's characteristics hint at a scenario where demand might slightly edge out supply, especially considering the reliance on Section 8 funding. Landlords should be aware that tenants receiving Section 8 vouchers will have a capped amount they can contribute toward rent, making it crucial to stay competitive yet within the bounds of the FMR.
The N/A% renter share, while lacking specific numbers, suggests that a considerable portion of residents are likely renters, which can exert long-term pressure on the housing market. In areas with high renter populations, there's often a continuous need for rental properties, driving competition among tenants and potentially supporting steady rental rates. However, without precise percentages, it's difficult to quantify this pressure accurately.
In summary, ZIP 39635 appears to be a market where demand is robust enough to support current rental prices without necessitating significant concessions. Landlords should focus on maintaining properties that meet the standards for Section 8 eligibility while positioning themselves to attract tenants who can leverage the $990 FMR effectively. The ongoing reliance on rental housing indicates a sustained interest in the area, beneficial for those investing in rental properties.
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.