ZIP Code · MS

ZIP 38632

Part of Hernando, MS

Pop. 31,374·DeSoto County·4th most expensive ZIP in Mississippi

Median rent (all units)

$2,167/mo

Year-over-Year

+0.2%

Month-over-Month

-0.5%

vs US Median

+$235

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 38632 · $2,167

More expensive than 69% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,070

1 BR

$1,170

2 BR

$1,290

3 BR

$1,700

4 BR+

$1,980

Research median

$1,290/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 38632 is 1.4% below its high of $2,197 in December 2025, at $2,167 as of September 2026.

Past year vs. the rest of Mississippi

Rent in ZIP 38632 changed +0.2% over the year to September 2026. Across the 30 Mississippi ZIP codes Zillow tracks, the typical change was +4.6%.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($93,583) is $2,340 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,980).

From Zillow's monthly rent index (ZORI) for ZIP 38632. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$26,004/yr

At $2,167/mo median

Location

CityHernando

StateMS

CountyDeSoto County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.2% YoY, -0.5% MoM), not inventory.

Demographics

Who lives here

ZIP 38632 (Hernando, MS) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 36.2% of residents hold a bachelor's degree or higher.

Population

31,374

Median income

$93,583

Median age

Renters

11.8%

Age distribution

25.2%

18.1%

27.7%

12.4%

16.5%

Under 1825.2%

18–3418.1%

35–5427.7%

55–6412.4%

65+16.5%

Gender

48.3%

51.7%

Male48.3%

Female51.7%

Race & ethnicity

81.8%

White81.8%

Black10.3%

Hispanic2.3%

Asian1%

Other4.6%

Education (25+)

24.8%

31%

36.2%

No HS diploma7.9%

HS diploma24.8%

Some college31%

Bachelor's+36.2%

Housing tenure

88.2%

Owner88.2%

Renter11.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 38632 in Hernando, MS has changed in 5 years

Income

$74,866 → $93,583

up 25.0%

Population

28,361 → 31,374

up 10.6%

Renter share

13.4% → 11.8%

-1.6 pts

Bachelor's+

29.2% → 36.2%

+7.0 pts

Median age

40.6 → 40

-0.6 yrs

Median household income rose from $74,866 to $93,583 between 2021 and 2024, a 25.0% shift. The population has grown by 10.6% since 2021, moving from about 28,361 residents to roughly 31,374. Renters now make up 11.8% of households, compared with 13.4% five years ago. College-educated residents now make up 36.2% of adults here, versus 29.2% in 2021.

Community

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Local insights

Tips for renters in ZIP 38632

About renting in ZIP 38632

Last updated: October 17, 2026

ZIP code 38632 covers Hernando, MS. The median rent here is $2,167/mo as of October 2026. A 1-bedroom rents for a median of $1,170/mo. A 2-bedroom rents for a median of $1,290/mo.

At 28% of local median household income ($93,583/yr), ZIP 38632 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.2% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 38632?

To keep rent at or below 30% of gross income, you would need to earn at least $87,000/year (about $42/hour full-time) to afford the median rent of $2,167/mo in ZIP 38632. The local median household income is $93,583/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 38632?

Rent in ZIP 38632 has been roughly flat over the past year as of September 2026, a +0.2% change. It sits 1.4% below its high of $2,197 in December 2025.

How does ZIP 38632 compare to other ZIPs in Mississippi?

ZIP 38632 is one of the pricier among Mississippi ZIP codes for rent, ranking #4 of 42 at $2,167/mo. Over the year to September 2026, rent in ZIP 38632 changed +0.2%, against a typical +4.6% across the 30 Mississippi ZIP codes Zillow tracks.