FY2027 Small Area FMR · Grace, MS

ZIP 38745 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 38745 (Grace, MS) is $920 a month, up 9.5% from FY2026. That is 2% above the Issaquena County, MS area-wide FMR of $905.

2-bedroom SAFMR$920per month ▲ 9.5%

Area-wide 2 BR FMR$905Issaquena County, MS

Rank in the area2ndof 6 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$828

2 BR Small Area FMR$920

110% of SAFMR$1,012

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$770▲ 8.5%

1 BR$830▲ 16.9%

2 BR$920▲ 9.5%

3 BR$1,170▲ 5.4%

4 BR$1,210▲ 8.0%

FY2027 FY2026

Where 38745 sits in the Issaquena County, MS area

Of the 6 ZIP codes HUD lists for the area, 38745 has the 2nd highest two-bedroom Small Area FMR. Issaquena County, MS is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $905 for two bedrooms; an agency that opts in to Small Area FMRs would use $920 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$770	$693 – $847	$761	$710
1 bedroom	$830	$747 – $913	$769	$710
2 bedrooms	$920	$828 – $1,012	$905	$840
3 bedrooms	$1,170	$1,053 – $1,287	$1,110	$1,110
4 bedrooms	$1,210	$1,089 – $1,331	$1,189	$1,120

A household renting a two-bedroom home at the Small Area FMR of $920 needs about $36,800 a year to keep housing costs at 30% of income. The area median family income is $67,200 and the 80% low-income limit for four people is $57,600. ZIP code 38745 lies mainly in Issaquena County. See the Issaquena County, MS county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
38744	Glen Allan	3.9 mi	$910
39113	Mayersville	4.3 mi	$920
38731	Chatham	8.1 mi	$910
38765	Panther Burn	9.7 mi	$920
39159	Rolling Fork	10.5 mi	$920
39061	Delta City	12.8 mi	$910

Questions

What is the Fair Market Rent for ZIP code 38745?

HUD's FY2027 Small Area Fair Market Rents for 38745 are $770 (studio), $830 (1 BR), $920 (2 BR), $1,170 (3 BR) and $1,210 (4 BR) a month.

What is the Section 8 payment standard in 38745?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 38745 that range is $828 to $1,012 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 38745?

The FY2026 income limits of the Issaquena County, MS area apply: median family income $67,200, low-income (80%) limit $57,600 for a family of four.