Location: Mississippi County, AR | Metro: Mississippi County, AR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
When considering whether to purchase a property in ZIP code 72370 for Section 8 investment, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $940 clear debt service on a property?
No. The FMR is insufficient to cover the debt service on a property in this area, given that the FMR figure is lower than typical mortgage payments plus other expenses such as insurance and maintenance.
2) Is the market rent of $847 above, at, or below the FMR?
Below. The market rent is $847, which is below the FMR of $940. This suggests that properties in ZIP 72370 may struggle to meet the minimum rent requirements set by the housing authority for Section 8 participation.
3) Are 53.3% of residents renters, and does the average number of days on the market (DOM) indicate sufficient demand?
It depends. While 53.3% of residents being renters indicates a moderate level of rental demand, the average DOM is not provided. A low DOM would suggest strong demand, while a high DOM could indicate challenges in finding tenants. Without the DOM data, it's unclear if there's enough demand to support a Section 8 investment.
The lack of clarity regarding the DOM and the financial mismatch between FMR and debt service costs make ZIP 72370 a risky choice for Section 8 investments.
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.