Location: Lincoln County, TN | Metro: Lincoln County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The ZIP code 37348 is situated in a rural area of Tennessee, characterized by a small population of 1,044 individuals. The rental market here is relatively modest, with only 19.1% of residents renting their homes. The median household income stands at $39,542, which is lower than the national average, indicating a community that predominantly relies on local employment opportunities and possibly government assistance programs. The median home value in this ZIP code is $263,518, suggesting that homeownership is affordable but not necessarily a priority for all residents given the income levels.
Moving into the economic analysis of rental properties, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $940. However, specific market rent data for ZIP 37348 is not available, making it challenging to directly compare the FMR with actual rental rates. This lack of detailed market rent information could be due to the limited number of rental units or the overall smaller scale of the housing market in this rural setting.
Given these conditions, ZIP 37348 might be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters suggests a stable demand for rental properties, but also indicates a potentially saturated market. Additionally, the affordability of homeownership could deter potential renters from seeking out rental properties, further limiting the pool of tenants. For those considering investing in this area, focusing on properties that can attract Section 8 tenants at the established FMR would likely yield more consistent returns without the need for extensive property management or renovations.
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.