FMR is below market; voucher rent may lag private rents.
0.72
1 BR
1 BR
0.79ratio
FMR$1,240
Market$1,570
vs market-$330
FMR is below market; voucher rent may lag private rents.
0.79
2 BR
2 BR
0.82ratio
FMR$1,450
Market$1,760
vs market-$310
FMR is below market; voucher rent may lag private rents.
0.82
3 BR
3 BR
1.00ratio
FMR$1,730
Market$1,730
vs market+$0
FMR is near market; voucher and private rents are aligned.
1.00
4 BR
4 BR
0.84ratio
FMR$1,910
Market$2,280
vs market-$370
FMR is below market; voucher rent may lag private rents.
0.84
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 39298 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 39298 (Jackson, MS) is $1,450 a month. That is unchanged from FY 2026. Jackson 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, 39298 is tied for the 3rd-highest two-bedroom rent (county range $910–$1,800). The median county two-bedroom FMR in Mississippi is $905, so ZIP 39298 is 60% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 39298
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,230
$1,240
+0.8%
$1,116–$1,364
1BR
$1,240
$1,240
0.0%
$1,116–$1,364
2BR
$1,450
$1,450
0.0%
$1,305–$1,595
3BR
$1,740
$1,730
−0.6%
$1,557–$1,903
4BR
$1,920
$1,910
−0.5%
$1,719–$2,101
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 39298
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,240
$1,240
$1,450
$1,730
$1,910
FY 2026
$1,230
$1,240
$1,450
$1,740
$1,920
FY 2025
$1,180
$1,190
$1,390
$1,670
$1,840
FY 2024
$1,110
$1,110
$1,290
$1,560
$1,740
FY 2023
$990
$1,000
$1,170
$1,420
$1,620
Two-bedroom rent in nearby Rankin County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 39298?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,450, that basic range is $1,305 to $1,595 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 39298 in?
ZIP 39298 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 39298 for FY 2027?
The two-bedroom FMR was unchanged at $1,450 in FY 2027. Since FY 2023 it has risen 23.9%.
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