Location: Clay County, MS | Metro: Clay 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 | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $910 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,130 | $180,116 | 0.63% | D |
U.S. Census Bureau data (2024)
The market in ZIP code 39741 presents a dynamic landscape that reflects both stability and potential for change. With a Fair Market Rent (FMR) set at $900 for fiscal year 2026, the area is positioned to see an increase in rental values compared to the current market rent of $618, according to Census ACS data. This suggests that there is upward pressure on rents, indicating a possible scenario where demand is beginning to catch up with or even surpass supply.
The median home value stands at $174,707, which is a significant figure for understanding the overall property value in the region. While specific data regarding the percentage of price cuts and days on the market (DOM) are not available, the FMR's projected rise implies that the housing market is moving towards a state where landlords can expect higher returns on their investments in the near future. This upward trend in FMR also indicates that the local economy might be growing, attracting new residents who are willing to pay more for housing.
A noteworthy aspect of this market is the 19.0% renter share. This statistic reveals a substantial segment of the population that relies on rental properties, signaling long-term housing pressure. As the percentage of renters increases, it often correlates with a greater need for affordable housing options. Landlords and small-portfolio investors should consider the implications of this demographic on their investment strategies, focusing on properties that cater to the needs of these renters.
The gap between the current market rent and the FMR suggests an opportunity for landlords to adjust their pricing strategies. By aligning with the FMR, they can potentially capitalize on the increasing demand for housing. However, it is crucial to monitor local economic indicators and the broader housing market trends to ensure that such adjustments remain in line with what tenants can afford.
In conclusion, ZIP 39741 is a market characterized by a balance between current affordability and future growth. The upward trajectory of rental values and the significant renter share indicate a shift towards increased demand, presenting opportunities for strategic investments in rental properties. Landlords should focus on maintaining competitive pricing while keeping an eye on the evolving market conditions.
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.