Location: Dyer County, TN | Metro: Dyer County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 38030 in fiscal year 2026 is set at $930. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount the government will pay towards your tenant's rent. However, this does not dictate the actual rent you can charge; it's merely the upper limit for voucher payments.
In ZIP 38030, the median household income stands at $169,938, which is significantly higher than the typical income levels of those who qualify for Section 8 assistance. Despite this, the area has a notable 38.7% share of renters, indicating a substantial demand for affordable housing options.
To put this into perspective, while the FMR is $930, the local market rent for similar properties is currently listed as N/A, suggesting that the actual rents charged might be higher than the FMR. This can create a challenge in finding tenants who have enough additional income to cover the difference between the voucher payment and the total rent you wish to collect.
When considering an investment in Section 8 housing, one critical factor to verify is the condition of the property against the Housing Quality Standards (HQS). These standards ensure that the home meets basic safety and habitability requirements. Failure to meet these criteria can result in non-payment or termination of the contract, so it's essential to confirm compliance before proceeding.
In summary, the FMR of $930 sets the maximum government payment for Section 8 vouchers in ZIP 38030. With a high median income but a significant rental market presence, there's potential for demand, but careful consideration of the property's condition and the ability to attract eligible tenants is crucial. Before finalizing your decision, ensure the property fully complies with HQS to avoid any future complications.
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.