Real Estate Investing in Falkner, Mississippi (38629)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 38629 (Falkner, MS)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 27.9% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (1.1% CAGR).
- Elevated poverty: 20.9% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Falkner, MS (38629)?
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Market Analysis: 38629 Falkner
ZIP 38629 in Falkner, MS carries a robust set of headwinds. Home values near $162K and rents of $783/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 38629 comes in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Falkner have seen price recovery that 38629 has not matched. Tippah County data supports the view that the spread is structural rather than temporary.
A notable renter share of 11% in 38629 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 38629 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Falkner:
Market Trends
Home Value History (with trend line)
📊 How Does 38629 Compare?
| Metric | 38629 | Falkner | Mississippi |
|---|---|---|---|
| Home Value | $161,549 | $161,549 | $186,446 |
| 5-Year CAGR | 1.1% | 1.1% | 4.0% |
| Avg Rent | $783 | $783 | - |
| Cap Rate | 3.8% | 3.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 38629 (Falkner, MS). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $161,549 |
| Monthly Rent | $783 |
| Price-to-Rent | 17.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 4.9% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +1.1% ▲ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 38629
Population: 1,731
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 38629
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Do landlords face vacancy issues in Falkner, MS?
Expect elevated vacancy in Falkner, MS. Rents at $783/mo are absorbed by the tenant base without meaningful lag.
Are tenants stable in Falkner, MS?
Working renters make up the core of the Falkner, MS tenant base. The pool is reasonable for investors targeting long-term holds.
How expensive is real estate in Falkner, MS?
The median home value in Falkner, MS is roughly $162K. That puts it reasonable relative to the MS statewide average.
Can I live-in-and-rent in Falkner, MS?
The house hack math a challenging in Falkner, MS. Owner-occupant buyers benefit from the $783/mo rents and $162K home values.
Is Falkner, MS landlord-friendly?
MS law landlord-friendly for landlords, and Falkner inherits those rules. Investors should still review local ordinances for rental licensing.
You know 38629 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 38629 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
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