Location: Houston County, TN | Metro: Stewart County, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
ZIP code 37175, located in Houston County, TN metro, serves as a strong cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for a $1,000 unit in ZIP 37175 for fiscal year 2024 is set at $793, providing a substantial spread over the actual rent amount. This means that landlords can expect a positive cash flow of $207 per month above the actual rent collected, assuming they are participating in the Section 8 program.
The median home value in ZIP 37175 stands at $208,668. This figure indicates that property values are relatively stable and affordable, making it easier for landlords to manage their investments without the risk of high vacancy rates due to unaffordable rents. The lower median home value also suggests that the area is less likely to experience significant fluctuations in property values, which is beneficial for maintaining consistent cash flows.
Despite the lack of specific data on price-cut shares and days on market (DOM), the renter share and median income provide additional context. With a renter share of 14.3%, there is a notable portion of the population relying on rental housing, which supports demand for properties. The median income of $53,125 aligns well with the affordability of the median home value and Section 8 rents, ensuring that tenants can meet their obligations without financial strain.
In summary, ZIP 37175 should be considered a cash-flow anchor in a Section 8 portfolio strategy due to the favorable spread between the FMR and the actual rent collected, along with the stability of property values and the presence of a sufficient tenant base. Landlords can rely on this area to generate steady, predictable income without the need for frequent adjustments or interventions.
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.