Section 8 Fair Market Rent (FMR) for ZIP 36564 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 36564 presents unique characteristics that distinguish it within the broader real estate market. With a population of 7,593 residents, this area has 36.5% of its inhabitants renting their homes, indicating a moderate demand for rental properties. The median household income in ZIP 36564 is $43,799, which is lower than the national average, suggesting that many residents rely on affordable housing options. The median home value stands at $146,000, reflecting a relatively stable and modest housing market.

Turning to the economics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 36564 in fiscal year 2024 is set at $1360. This figure is crucial for landlords and small-portfolio investors as it represents the maximum amount the federal government will pay towards a tenant's rent under the Housing Choice Voucher program. Given that the specific market rent data is not available, we can infer that the FMR provides a benchmark for affordable rental rates in the area. Landlords should consider this rate when setting their own rental prices to ensure they remain competitive and attractive to voucher holders.

Based on the data signature of ZIP 36564, the area appears to be stable. The combination of a moderate rental market share and a defined FMR suggests a consistent demand for affordable housing without significant volatility. For investors looking to enter or expand within this ZIP code, understanding these economic indicators is key to making informed decisions about property investments and management strategies.

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.