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Benton County/Holly Springs/38635

38635

ZIPSAFMR
Benton County, MS
Zillow

ZIP Investment Score

67Below average

095130300
BRFMR
Eff. Rent
0 BR$770$770
1 BR$780$780
2 BR$1,000$1,000
3 BR$1,210$1,210
4 BR$1,670$1,670
5 BR$1,920Not available
6 BR$2,209Not available
7 BR$2,540Not available
8 BR$2,921Not available

Purchase Price Calculator

Maximum purchase price
$86,683

Cost breakdown

+Likely effective rent$1,000
HUD FMRUsed$1,000
Market rentN/A
Est. payment standardN/A
-Principal and interest-$438
Loan amount$69,346
Down payment$17,337
Rate6.50%
Term30 years
-Operating costs-$362
Property taxes-$87
Insurance-$175
Utilities$0
HOA$0
Management-$100
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,350(94.3% ROI)
Projected value
$93,348
Return breakdown
Property appreciation+$6,665
Loan principal paid down+$2,485
Rental cash flow+$7,200
5-year hold
+$27,821(160.5% ROI)
Projected value
$98,074
Return breakdown
Property appreciation+$11,391
Loan principal paid down+$4,431
Rental cash flow+$12,000
10-year hold
+$58,836(339.4% ROI)
Projected value
$110,962
Return breakdown
Property appreciation+$24,279
Loan principal paid down+$10,557
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 38635 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38635 (Holly Springs, MS) is $1,000 a month. That is down 4.8% from $1,050 in FY 2026. Holly Springs is in the Benton County, MS HUD Metro 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 metro-wide two-bedroom FMR of $905. Among 11 ZIP codes in Benton County, 38635 is tied for the 2nd-highest two-bedroom rent (county range $910–$1,020). The median county two-bedroom FMR in Mississippi is $905, so ZIP 38635 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 38635
BedroomsFY 2027Change90–110% range
Studio$770−3.7%$693–$847
1BR$780−3.7%$702–$858
2BR$1,000−4.8%$900–$1,100
3BR$1,210−4.7%$1,089–$1,331
4BR$1,670−2.9%$1,503–$1,837

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 38635
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$770$780$1,000$1,210$1,670
FY 2026$800$810$1,050$1,270$1,720
FY 2025$840$850$1,110$1,340$1,710
FY 2024$800$820$1,020$1,240$1,580
FY 2023$630$690$820$1,000$1,270

Two-bedroom rent in nearby Benton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 38635
38603$910−9.0%
38610$950−5.0%
38629$910−9.0%
38633$1,0000.0%
38635Current$1,000—
38642$1,0000.0%
38647$940−6.0%
38650$910−9.0%
38659$1,020+2.0%
38663$910−9.0%
38683$910−9.0%

Questions about ZIP 38635 rents

How much will Section 8 pay for a two-bedroom in ZIP 38635?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-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 $1,000 it would be $900 to $1,100. 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 ZIP 38635 in?

ZIP 38635 is in the Benton County, MS HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $905.

How much did fair market rent change in ZIP 38635 for FY 2027?

The two-bedroom FMR fell 4.8%, from $1,050 in FY 2026 to $1,000 in FY 2027. Since FY 2023 it has risen 22.0%.

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

County fair market rentHolly Springs, MS fair market rentMS statewide rentsWhat is SAFMR?Data sources