Location: Pike County, MS | Metro: Pike County, MS
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,250 | $150,476 | 0.83% | C |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 39648 are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $990 per month for fiscal year 2026. This SAFMR represents the maximum amount that the government will pay to landlords participating in the Section 8 Housing Choice Voucher program for a unit of this size. However, it's important to note that the local market rent for a similar unit is slightly lower at $927 according to the latest Census ACS data.
A voucher payment is structured to cover the difference between the tenant's contribution and the SAFMR. Landlords receive the voucher payment, which is calculated based on the SAFMR minus the tenant's portion, plus any applicable utility allowances. For ZIP 39648, the tenant's portion is typically 30% of their adjusted income. If a tenant's monthly adjusted income is $1,000, they would contribute $300 toward rent. The remaining $690, along with utility allowances, is covered by the voucher.
In this scenario, if a landlord charges $990, the full SAFMR, the government would reimburse the landlord for the entire amount, assuming the tenant's contribution and utility allowances add up to $990. If the landlord charges less, say $927, the reimbursement would still be based on the tenant's contribution and utility allowances, but the total payment would be lower. The utility allowance can vary but is generally around $100-$150 per month, depending on the number of bedrooms and other factors.
To illustrate, if the landlord charges $990, the government would pay the remaining $690 plus the utility allowance, ensuring the landlord receives the full SAFMR. If the landlord sets the rent at $927, the government would pay the difference between the tenant's contribution and the rent, plus utility allowances. This means the landlord would receive the full $927, but the reimbursement would be lower compared to the SAFMR.
The typical reimbursement gap or surplus in ZIP 39648 for a two-bedroom apartment is minimal when the landlord charges the local market rent of $927, as the government reimbursement covers most of the cost. However, if the landlord charges the full SAFMR of $990, there could be a surplus of up to $63 ($990 - $927), meaning the landlord would receive slightly more than the average market rent.
Landlords should be aware that while the SAFMR provides a guideline for rental rates, the actual reimbursement depends on the tenant's income and utility usage. It's crucial to review each case individually to ensure compliance and maximize financial benefits.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.