Section 8 Fair Market Rent (FMR) for ZIP 36114 - 2027

FY 2027 Fair Market Rent Rates

The classification of ZIP 36114 on the yield and stability axes requires specific data points which were not fully available in the sources accessed. However, based on the available information, we can make some observations.

Yield: The Fair Market Rent (FMR) for ZIP 36114 in fiscal year 2024 is set at $1080 for a specified unit type. This figure indicates the maximum amount that a voucher holder can pay towards rent and utilities. While the exact market rent and home value figures are not provided, the FMR suggests a relatively stable rental environment, as it is a government-set benchmark intended to reflect the market conditions.

Stability: The data shows that 90.3% of housing units in ZIP 36114 are renter-occupied, indicating a strong rental market presence. The median household income in the area is $91,462, which is quite high compared to the state average, suggesting financial stability among the residents. However, the median home value is listed as $0, which could imply that there are few owner-occupied homes in the area, possibly due to the large presence of military housing or other non-traditional residential structures.

Given the high renter occupancy rate and the high median household income, ZIP 36114 appears to be a steady-cashflow zone rather than a high-yield/low-stability market. The high income levels support consistent rental payments, making it less risky for landlords and small-portfolio investors. However, without precise market rent and home value figures, it is challenging to definitively classify the ZIP code on the yield axis.

Data Sources: FMR data from HUD (2027).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.