Location: Hardeman County, TN | Metro: Hardeman County, TN
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,440 | $173,154 | 0.83% | C |
| 4BR | $1,480 | $262,894 | 0.56% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,020. This figure represents the maximum amount that landlords can charge tenants who receive Section 8 housing vouchers. In contrast, the current market rent for ZIP 38008 is $826, which means there is a positive spread of $194 per unit. This spread ensures that landlords will have a consistent and reliable source of rental income, even if they are renting to tenants with Section 8 vouchers.
The median home value in ZIP 38008 is $146,799, which is relatively low compared to many other areas in the United States. This makes it easier for landlords to purchase properties in this area, thus increasing their potential for cash flow generation. The low median home value also suggests that the area is less likely to experience rapid appreciation, making it a stable choice for long-term investments.
While the area does have a renter share of 33.2%, which could indicate some potential for appreciation, the low price-cut share of 0.2% and the non-available day DOM (Days on Market) suggest that the primary advantage of investing in ZIP 38008 is its ability to provide steady cash flow rather than significant capital appreciation.
In summary, ZIP 38008 is best suited as a cash-flow anchor within a Section 8 portfolio strategy due to the favorable spread between the FMR and market rent, the low median home value, and the stability indicated by the low price-cut share and non-available day DOM.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.