FMR is below market; voucher rent may lag private rents.
0.53
1 BR
1 BR
0.59ratio
FMR$930
Market$1,570
vs market-$640
FMR is below market; voucher rent may lag private rents.
0.59
2 BR
2 BR
0.61ratio
FMR$1,080
Market$1,760
vs market-$680
FMR is below market; voucher rent may lag private rents.
0.61
3 BR
3 BR
0.75ratio
FMR$1,290
Market$1,730
vs market-$440
FMR is below market; voucher rent may lag private rents.
0.75
4 BR
4 BR
0.63ratio
FMR$1,430
Market$2,280
vs market-$850
FMR is below market; voucher rent may lag private rents.
0.63
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 39148 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 39148 (Piney Woods, MS) is $1,080 a month. That is down 5.3% from $1,140 in FY 2026. Piney Woods is in the Jackson, MS HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 17 ZIP codes in Rankin County, 39148 is tied for the 11th-highest two-bedroom rent (county range $910–$1,800). The median county two-bedroom FMR in Mississippi is $905, so ZIP 39148 is 19% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 39148
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$960
$920
−4.2%
$828–$1,012
1BR
$970
$930
−4.1%
$837–$1,023
2BR
$1,140
$1,080
−5.3%
$972–$1,188
3BR
$1,380
$1,290
−6.5%
$1,161–$1,419
4BR
$1,530
$1,430
−6.5%
$1,287–$1,573
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 39148
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$920
$930
$1,080
$1,290
$1,430
FY 2026
$960
$970
$1,140
$1,380
$1,530
FY 2025
$1,000
$1,000
$1,170
$1,410
$1,570
FY 2024
$1,110
$1,110
$1,290
$1,560
$1,740
FY 2023area FMR
$895
$908
$1,059
$1,289
$1,463
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Rankin County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 39148?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,080, that basic range is $972 to $1,188 a month. 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 39148 in?
ZIP 39148 is in the Jackson, MS HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in ZIP 39148 for FY 2027?
The two-bedroom FMR fell 5.3%, from $1,140 in FY 2026 to $1,080 in FY 2027. Since FY 2024 it has fallen 16.3%.
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