Location: Walthall County, MS | Metro: Marion County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The ZIP code 39643 is located in a tranquil, predominantly residential neighborhood. With a total population of 1,356, it stands out as a small community where just over one-fifth of residents, specifically 21.4%, are renters. The median household income in this area is $56,042, which places it in a comfortable middle-income bracket. The median home value is $163,525, indicating that homeownership is relatively affordable compared to national averages.
Moving into the economic specifics of rental properties, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,020. However, specific market rent data for ZIP 39643 is currently unavailable. This lack of precise local data can make it challenging to gauge the exact rental landscape, but the FMR provides a benchmark for understanding the potential rent levels that could be achieved through Section 8 vouchers.
Given these figures, ZIP 39643 is well-suited for a hands-off Section 8 voucher operator. The relatively low median home value suggests that properties here are more likely to fall within the price range that qualifies for Section 8 assistance. Furthermore, the absence of detailed market rent data indicates that the FMR might serve as a reasonable estimate for setting rents, making it easier to manage properties without extensive involvement in the day-to-day operations.
However, for a hands-on value-add buyer, there may be limited opportunities due to the small size of the rental market. With only about 290 renters in the entire ZIP code, the pool of potential tenants is quite narrow. This scenario could present challenges in finding enough qualified Section 8 applicants to fill all units if the investor plans to operate multiple properties in the area.
In conclusion, while ZIP 39643 offers a stable environment for hands-off operators interested in Section 8 properties, the smaller scale of the rental market might not appeal to those looking for significant growth or active management opportunities. For hands-off operators, the $1,020 FMR provides a clear guideline for setting rents that align with government assistance programs, ensuring steady occupancy and predictable cash flows.
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.