Location: Hickman County, TN | Metro: Hickman County, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The ZIP code 37140 stands out due to its unique data profile. With a population of 1,494 residents, it has a rental rate of 17.5%, which is relatively low compared to many other areas. The median income in this county ZIP is $62,232, indicating a middle-class community. However, the lack of data on the median home value suggests that there might be limited housing stock or a focus on other types of dwellings.
Regarding the voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,070. This figure is crucial for landlords and small-portfolio investors because it represents the benchmark rent amount that Section 8 vouchers can cover. Despite the FMR being established, the absence of market rent data means that landlords must rely on local knowledge to determine if their rental properties align with the voucher program's limits. It is essential to note that the FMR is designed to ensure that tenants can find suitable housing without being overburdened by rent costs.
The data signature for ZIP 37140 reads as stable. The low rental rate and middle-income levels suggest a community where homeownership is more common than renting, and the established FMR provides a clear guideline for those who do rent. For investors looking to enter this market, understanding the local dynamics and the impact of the FMR on potential rents will be key to making informed decisions.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.