How many renters live in Pike County, Mississippi?
The County of Pike County has 40,098 people living in 14,745 households.
There are 13,463 renters living in 5,148 renter households in this County. Renters make up 33.58 percent of the population living in Pike County.
What is the rental market like in Pike County, Mississippi?
There are an estimated 19,014 housing units in the Pike County area. Of these, 6,001 units are rental homes, making up 32 percent of the housing market. For every renter household in Pike County, Mississippi, there are 1 rental units.
What is the vacancy rate for rentals in Pike County?
The rental vacancy rate in Pike County is 13 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Pike County for each bedroom size?
Occupied Rental Units by Size in Pike County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 115 | 630 | 2,067 | 2,127 | 209 |
Occupied Rental Units by Size in Pike County
A large number of apartments in Pike County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Pike County are overburdened by housing costs?
Among renter households in this market, 38 percent have housing cost burden. Further, 21 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Pike County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $873 to $1,354. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $873 |
| One BR | $896 |
| Two BR | $1,017 |
| Three BR | $1,230 |
| Four BR | $1,354 |
2024 Fair Market Rents in Pike County, Mississippi
How many units are rented at Fair Market Rent (FMR) in Pike County?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 87 | 76 percent |
| One BR | 402 | 64 percent |
| Two BR | 1,280 | 62 percent |
Rental Units Below FMR in Pike County, Mississippi
How many affordable rental units are in Pike County?
There are a variety of federal affordable housing programs serving households in Pike County, Mississippi including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 345 |
| Public Housing | 42 |
| Section 8 Project-Based Rental Assistance | 637 |
| USDA Section 515 Rural Rental Housing | 306 |
Tracked Units by Federal Program in Pike County, Mississippi
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Pike County, Mississippi
Pike County features 912 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Pike County, Mississippi
There are 270 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Pike County.
Housing Choice Vouchers in Pike County, Mississippi
On average, Section 8 Housing Choice vouchers pay Pike County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Pike County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Pike County, Mississippi for a two-bedroom apartment is between $915 and $1,119.
Sourced from federal housing data and AffordableHousingOnline.com research.
