ZIP Code · MS

ZIP 38655

Part of Oxford, MS

Pop. 46,156·Lafayette County·1st most expensive ZIP in Mississippi

Median rent (all units)

$2,338/mo

Year-over-Year

+4.6%

Month-over-Month

+0.3%

vs US Median

+$406

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 38655 · $2,338

More expensive than 75% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,060

1 BR

$1,070

2 BR

$1,260

3 BR

$1,560

4 BR+

$1,670

Research median

$1,260/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

Cheapest month to sign

January. Asking rents in ZIP 38655 usually run 1.6% below trend in January and 1.3% above it in October, about $68 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 38655 is at its highest level since Zillow's records here began in October 2021.

Past year vs. the rest of Mississippi

Rent in ZIP 38655 changed +4.6% over the year to September 2026. Across the 30 Mississippi ZIP codes Zillow tracks, the typical change was +4.6%.

Recent direction

Rent has risen 5 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($68,235) is $1,706 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,670).

From Zillow's monthly rent index (ZORI) for ZIP 38655. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$28,056/yr

At $2,338/mo median

Location

CityOxford

StateMS

CountyLafayette County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.6% YoY, +0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 38655 (Oxford, MS) is majority owner-occupied, skews toward younger working-age adults, 51.1% of residents hold a bachelor's degree or higher.

Population

46,156

Median income

$68,235

Median age

32.7

Renters

39.6%

Age distribution

20.4%

32.3%

23.1%

14.5%

Under 1820.4%

18–3432.3%

35–5423.1%

55–649.7%

65+14.5%

Gender

47.3%

52.7%

Male47.3%

Female52.7%

Race & ethnicity

69%

23.3%

White69%

Black23.3%

Hispanic3.8%

Asian2.5%

Other1.4%

Education (25+)

16.1%

25.9%

51.1%

No HS diploma6.9%

HS diploma16.1%

Some college25.9%

Bachelor's+51.1%

Housing tenure

60.4%

39.6%

Owner60.4%

Renter39.6%

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

2022 vs 2026

How ZIP 38655 in Oxford, MS has changed in 5 years

Rent

$1,474 → $2,338

up 58.6%

Income

$54,780 → $68,235

up 24.6%

Population

45,150 → 46,156

up 2.2%

Renter share

40.9% → 39.6%

-1.3 pts

Bachelor's+

48.1% → 51.1%

+3.0 pts

Across the past five years, the going rent in ZIP 38655 in Oxford, MS has shifted from $1,474 to $2,338, up 58.6% since 2022. On the earnings side, the typical household in ZIP 38655 in Oxford, MS now reports about $68,235, up from $54,780 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 38655 in Oxford, MS adding about 1,006 residents over the five-year window, up 2.2% on net. Bachelor's-degree-or-higher attainment moved from 48.1% to 51.1% across the same window. For context, the 2022 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 38655 in Oxford, MS reflects that arc in its own way.

Community

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Local insights

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About renting in ZIP 38655

Last updated: October 17, 2026

ZIP code 38655 covers Oxford, MS. The median rent here is $2,338/mo as of October 2026. A 1-bedroom rents for a median of $1,070/mo. A 2-bedroom rents for a median of $1,260/mo.

At 41% of local median household income ($68,235/yr), ZIP 38655 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 38655?

To keep rent at or below 30% of gross income, you would need to earn at least $94,000/year (about $45/hour full-time) to afford the median rent of $2,338/mo in ZIP 38655. The local median household income is $68,235/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 38655?

Rent in ZIP 38655 has risen 4.6% over the past year as of September 2026. That is the highest level since Zillow's records here began in October 2021.

When is the cheapest time to rent in ZIP 38655?

Asking rents in ZIP 38655 are usually lowest in January, about 1.6% below their yearly trend, and highest in October, about 1.3% above it. At today's median that is a gap of roughly $68 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 38655 compare to other ZIPs in Mississippi?

ZIP 38655 is one of the pricier among Mississippi ZIP codes for rent, ranking #1 of 42 at $2,338/mo. Over the year to September 2026, rent in ZIP 38655 changed +4.6%, against a typical +4.6% across the 30 Mississippi ZIP codes Zillow tracks.