Location: Lincoln County, MS | Metro: Franklin County, MS
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,210 |
| 5 Bedrooms | $1,404 |
| 6 Bedrooms | $1,572 |
| 7 Bedrooms | $1,698 |
| 8 Bedrooms | $1,783 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 39647 are straightforward. The SAFMR (Standard Area Fair Market Rent) for a two-bedroom apartment is set at $890 per month for fiscal year 2026. This figure is specifically tailored for this ZIP code, reflecting the local rental market conditions.
A landlord participating in the Section 8 program receives a subsidy from the government to cover part of the rent. The total rent is split between the landlord and the tenant. For a two-bedroom unit, the tenant is expected to pay 30% of their adjusted income towards rent. If the tenant's share does not meet the SAFMR, the difference is covered by the housing authority up to the maximum limit of $890.
Utility allowances are also factored into the payment structure but do not increase the total rent above the SAFMR. These allowances are meant to help offset the cost of utilities for the tenant, ensuring they have enough money left over after paying rent.
To illustrate, let's assume a tenant's adjusted monthly income is $1,500. Thirty percent of this income would be $450, which is the amount the tenant would contribute toward the rent. Since the SAFMR is $890, the housing authority would pay the remaining $440 to ensure the landlord receives the full SAFMR amount.
In ZIP code 39647, the local market rent data is currently unavailable, making it difficult to provide a direct comparison. However, if the local market rent were higher than the SAFMR, landlords might face a shortfall. Conversely, if the market rent is lower, landlords could receive more than the market value for their units, creating a surplus.
Given the SAFMR of $890, landlords should anticipate that the actual reimbursement will be this amount or less, depending on the tenant's income. There is no surplus indicated by the available data, suggesting that landlords may experience a gap between the SAFMR and the market rent if it exceeds the $890 limit.
In conclusion, landlords in ZIP 39647 can expect a Section 8 voucher reimbursement of up to $890 for a two-bedroom apartment, with any shortfall below this amount being covered by the housing authority. The potential for a surplus or shortfall depends on the local market rent, which is currently unreported. Therefore, landlords must consider the SAFMR limit when deciding whether to participate in the Section 8 program.
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.