FMR is near market; voucher and private rents are aligned.
0.97
1 BR
1 BR
1.06ratio
FMR$840
Market$790
vs market+$50
FMR is near market; voucher and private rents are aligned.
1.06
2 BR
2 BR
1.08ratio
FMR$910
Market$840
vs market+$70
FMR is near market; voucher and private rents are aligned.
1.08
3 BR
3 BR
1.27ratio
FMR$1,130
Market$890
vs market+$240
FMR is above market; underwrite to market rent.
1.27
4 BR
4 BR
1.24ratio
FMR$1,200
Market$970
vs market+$230
FMR is above market; underwrite to market rent.
1.24
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
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ZIP 38835 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38835 (Corinth, MS) is $910 a month. That is up 8.3% from $840 in FY 2026. Corinth is in the Alcorn 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. Among 6 ZIP codes in Alcorn County, 38835 is tied for the 2nd-highest two-bedroom rent (county range $910–$990).
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 38835
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$730
$770
+5.5%
$693–$847
1BR
$770
$840
+9.1%
$756–$924
2BR
$840
$910
+8.3%
$819–$1,001
3BR
$1,170
$1,130
−3.4%
$1,017–$1,243
4BR
$1,170
$1,200
+2.6%
$1,080–$1,320
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 38835
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$770
$840
$910
$1,130
$1,200
FY 2026
$730
$770
$840
$1,170
$1,170
FY 2025
$780
$780
$930
$1,290
$1,290
FY 2024area FMR
$708
$712
$903
$1,263
$1,330
FY 2023area FMR
$578
$582
$766
$1,083
$1,155
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Alcorn County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 38835?
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 $910 it would be $819 to $1,001. 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 38835 in?
ZIP 38835 is in the Alcorn 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 ZIP 38835 for FY 2027?
The two-bedroom FMR rose 8.3%, from $840 in FY 2026 to $910 in FY 2027. Since FY 2025 it has fallen 2.2%.
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