How many renters live in Panola County, Mississippi?
The County of Panola County has people living in households.
There are renters living in renter households in this County. Renters make up 27.01 percent of the population living in Panola County.
What is the rental market like in Panola County, Mississippi?
There are an estimated housing units in the Panola County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Panola County, Mississippi, there are 1.08 rental units.
What is the vacancy rate for rentals in Panola County?
The rental vacancy rate in Panola County is 7 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 Panola County for each bedroom size?
Occupied Rental Units by Size in Panola County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 180 | 483 | 1,160 | 1,455 | 287 |
Occupied Rental Units by Size in Panola County
A large number of apartments in Panola County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Panola County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $620 to $1,553. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $620 |
| One BR | $752 |
| Two BR | $915 |
| Three BR | $1,198 |
| Four BR | $1,553 |
2024 Fair Market Rents in Panola County, Mississippi
How many units are rented at Fair Market Rent (FMR) in Panola 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 | 169 | 94 percent |
| One BR | 361 | 75 percent |
| Two BR | 599 | 52 percent |
Rental Units Below FMR in Panola County, Mississippi
How many affordable rental units are in Panola County?
There are a variety of federal affordable housing programs serving households in Panola County, Mississippi including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| Section 202 Supportive Housing for the Elderly | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Panola County, Mississippi
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Panola County, Mississippi
Panola County features 661 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 Panola County, Mississippi
There are 268 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Panola County.
Housing Choice Vouchers in Panola County, Mississippi
On average, Section 8 Housing Choice vouchers pay Panola County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Panola County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Panola County, Mississippi for a two-bedroom apartment is between $824 and $1,007.
Sourced from federal housing data and AffordableHousingOnline.com research.