For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Shannon, MS is $1,080 a month. That is up 9.1% from $990 in FY 2026. Shannon is in the Chickasaw County, MS non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $905. The median county two-bedroom FMR in Mississippi is $905, so Shannon is 19% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Shannon, MS
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$830
$940
+13.3%
$846–$1,034
1BR
$840
$960
+14.3%
$864–$1,056
2BR
$990
$1,080
+9.1%
$972–$1,188
3BR
$1,250
$1,370
+9.6%
$1,233–$1,507
4BR
$1,420
$1,450
+2.1%
$1,305–$1,595
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Shannon, MS
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$940
$960
$1,080
$1,370
$1,450
FY 2026
$830
$840
$990
$1,250
$1,420
FY 2025
$820
$840
$990
$1,240
$1,340
FY 2024area FMR
$683
$687
$903
$1,226
$1,481
FY 2023area FMR
$578
$582
$766
$1,043
$1,182
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Shannon, MS rents
How much will Section 8 pay for a two-bedroom in Shannon, MS?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $905, which applies unless the housing authority uses Small Area FMRs, that basic range is $815 to $996 a month; under the ZIP-level Small Area FMR of $1,080 it would be $972 to $1,188. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Shannon, MS in?
Shannon, MS is in the Chickasaw County, MS non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $905.
How much did fair market rent change in Shannon, MS for FY 2027?
The two-bedroom FMR rose 9.1%, from $990 in FY 2026 to $1,080 in FY 2027. Since FY 2025 it has risen 9.1%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set