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ZIP Code · MS

ZIP 38654

Pop. 57,898·DeSoto County·7th most expensive ZIP in Mississippi
Median rent (all units)
$1,896/mo
Year-over-Year
-1.5%
Month-over-Month
-3.0%
vs US Median
-$69
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 38654 · $1,896
More expensive than 54% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,410
1 BR
$1,530
2 BR
$1,690
3 BR
$2,230
4 BR+
$2,600
Research median
$1,690/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: July 20, 2026

Annual cost
$22,752/yr
At $1,896/mo median
Location
StateMS
CountyDeSoto County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 1.5% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-1.5% YoY, -3.0% MoM), not inventory.
Demographics

Who lives here

ZIP 38654 (Olive Branch, MS) is majority owner-occupied, has a median income above the national average, 32.5% of residents hold a bachelor's degree or higher.

Population
57,898
Median income
$103,092
Median age
38.5
Renters
14.9%
Age distribution
24.4%
20.4%
30.4%
13.2%
Under 1824.4%
18–3420.4%
35–5430.4%
55–6411.5%
65+13.2%
Gender
48.6%
51.4%
Male48.6%
Female51.4%
Race & ethnicity
56.7%
32.8%
White56.7%
Black32.8%
Hispanic5.6%
Asian2.2%
Other2.7%
Education (25+)
27.3%
34.4%
32.5%
No HS diploma5.9%
HS diploma27.3%
Some college34.4%
Bachelor's+32.5%
Housing tenure
85.1%
14.9%
Owner85.1%
Renter14.9%

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

2021 vs 2026

How ZIP 38654 in Olive Branch, MS has changed in 5 years

Rent
$1,565 → $1,896
up 21.2%
Income
$89,029 → $103,092
up 15.8%
Population
55,132 → 57,898
up 5.0%
Renter share
16.8% → 14.9%
-1.9 pts
Bachelor's+
30.2% → 32.5%
+2.3 pts

The median rent in ZIP 38654 in Olive Branch, MS stood at $1,565 in 2021 and currently runs about $1,896, reflecting a 21.2% increase over the period. Census figures show median household income at $103,092 today, compared with $89,029 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 5.0% since 2021, moving from about 55,132 residents to roughly 57,898. Renters now make up 14.9% of households, compared with 16.8% five years ago. College-educated residents now make up 32.5% of adults here, versus 30.2% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

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Local insights

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About renting in ZIP 38654

Last updated: July 20, 2026

ZIP code 38654 covers Olive Branch, MS. The median rent here is $1,896/mo as of July 2026. A 1-bedroom rents for a median of $1,530/mo. A 2-bedroom rents for a median of $1,690/mo.

At 22% of local median household income ($103,092/yr), ZIP 38654 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 1.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 38654?

As of July 20, 2026, the median monthly rent in ZIP 38654 (Olive Branch, MS) is $1,896. This is based on aggregated data from public sources and community submissions.

How does ZIP 38654 rent compare to the US average?

ZIP 38654's median rent of $1,896/mo is $69 (4%) below the US national median of $1,965/mo.

How does ZIP 38654 compare to other ZIPs in Mississippi?

ZIP 38654 is one of the pricier ZIP codes in Mississippi, ranking #7 out of 38 ZIPs tracked at $1,896/mo.

How much income do you need to rent in ZIP 38654?

To keep rent at or below 30% of gross income, you would need to earn at least $76,000/year (~$37/hour full-time) to afford the median rent of $1,896/mo in ZIP 38654. The local median household income is $103,092/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 38654?

Rent in ZIP 38654 has decreased 1.5% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 38654 an affordable place to rent?

ZIP 38654 is considered very affordable for renters. At $1,896/mo, rent takes approximately 22% of the local median household income ($103,092/yr). The standard benchmark is 30%. ZIP 38654 falls comfortably within that range.

What percentage of ZIP 38654 residents rent vs. own?

According to Census data, approximately 14.9% of ZIP 38654 households are renters, while 85.1% are owner-occupied. ZIP 38654 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 38654 compare to the rest of Olive Branch?

ZIP 38654 sits right at the Olive Branch citywide median of $1,896/mo.

When was rent data for ZIP 38654 last updated?

Rent data for ZIP 38654 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
22%
VERY AFFORDABLE

At $1,896/mo, rent takes ~22% of ZIP 38654's median household income ($103,092/yr). The standard benchmark is 30%.

ZIP 38654 22%Benchmark 30%
State income tax4.7%
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