FY2026 Fair Market Rents — Covington County
Studio
$708
1BR
$713
2BR
$842
3BR
$1,111
4BR
$1,115
Covington County, Mississippi
FIPS 28031 · County-level FMR and income limit data
FMR Area: Covington County, MS
FY2026 Fair Market Rents
| Bedroom Size | Monthly FMR | Annual Equivalent |
|---|---|---|
| Efficiency (Studio) | $708 | $8,496 |
| 1-Bedroom | $713 | $8,556 |
| 2-Bedroom | $842 | $10,104 |
| 3-Bedroom | $1,111 | $13,332 |
| 4-Bedroom | $1,115 | $13,380 |
To afford the FY2026 2-bedroom FMR of $842/mo under the 30%-of-income rule, a household needs about
$33,680/yr ($2,807/mo). Area Median Income is $63,000.
At MS's federal minimum wage of $7.25/hr, a worker would need to work 90 hours/week to afford that rent.
Recent FMR Trend
| Fiscal Year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY2026 | $708 | $713 | $842 | $1,111 | $1,115 |
| FY2025 | $656 | $783 | $933 | $1,232 | $1,237 |
| FY2024 | $614 | $749 | $903 | $1,210 | $1,215 |
| FY2023 | $520 | $637 | $766 | $1,089 | $1,093 |
| FY2022 | $493 | $619 | $705 | $1,001 | $1,037 |
| FY2021 | $547 | $548 | $699 | $890 | $966 |
| FY2020 | $510 | $517 | $681 | $849 | $948 |
FY2026 Income Limits
Area Median Income: $63,000
| Income Level | 1p | 2p | 3p | 4p | 5p | 6p |
|---|---|---|---|---|---|---|
| 30% AMI | $15,960 | $21,640 | $27,320 | $33,000 | $38,680 | $41,800 |
| 50% AMI | $25,200 | $28,800 | $32,400 | $36,000 | $38,900 | $41,800 |
| 80% AMI | $40,350 | $46,100 | $51,850 | $57,600 | $62,250 | $66,850 |