FMR is below market; voucher rent may lag private rents.
0.74
1 BR
1 BR
0.76ratio
FMR$1,020
Market$1,350
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.76
2 BR
2 BR
0.73ratio
FMR$1,260
Market$1,720
vs market-$460
FMR is below market; voucher rent may lag private rents.
0.73
3 BR
3 BR
0.56ratio
FMR$1,510
Market$2,680
vs market-$1,170
FMR is below market; voucher rent may lag private rents.
0.56
4 BR
4 BR
0.46ratio
FMR$1,660
Market$3,580
vs market-$1,920
FMR is below market; voucher rent may lag private rents.
0.46
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 38677 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38677 (Oxford, MS) is $1,260 a month. That is unchanged from FY 2026. Oxford is in the Lafayette 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 $1,255. Among 14 ZIP codes in Lafayette County, 38677 is tied for the highest two-bedroom rent (county range $1,120–$1,260). The median county two-bedroom FMR in Mississippi is $905, so ZIP 38677 is 39% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 38677
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,060
$1,010
−4.7%
$909–$1,111
1BR
$1,070
$1,020
−4.7%
$918–$1,122
2BR
$1,260
$1,260
0.0%
$1,134–$1,386
3BR
$1,560
$1,510
−3.2%
$1,359–$1,661
4BR
$1,670
$1,660
−0.6%
$1,494–$1,826
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 38677
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,010
$1,020
$1,260
$1,510
$1,660
FY 2026
$1,060
$1,070
$1,260
$1,560
$1,670
FY 2025
$1,120
$1,130
$1,330
$1,670
$1,760
FY 2024area FMR
$1,050
$1,065
$1,258
$1,521
$1,675
FY 2023area FMR
$781
$892
$1,105
$1,345
$1,484
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Lafayette County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 38677?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,255, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,130 to $1,381 a month; under the ZIP-level Small Area FMR of $1,260 it would be $1,134 to $1,386. 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 38677 in?
ZIP 38677 is in the Lafayette County, MS non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,255.
How much did fair market rent change in ZIP 38677 for FY 2027?
The two-bedroom FMR was unchanged at $1,260 in FY 2027. Since FY 2025 it has fallen 5.3%.
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