Location: Memphis, TN | Metro: Memphis, TN-MS-AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
U.S. Census Bureau data (2024)
The ZIP code 38054, located in a county with a distinct data signature, is characterized by a very small population of only 102 residents. Due to the limited data available, key metrics such as the percentage of residents renting, median income, and median home value are not provided. This lack of detailed demographic information can make it challenging to fully assess the economic landscape of the area.
However, the focus for landlords and small-portfolio investors should be on the voucher economics. The Fair Market Rent (FMR) for ZIP 38054 in fiscal year 2024 is set at $1400. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay landlords through the Section 8 program for rental units. Given the absence of market rent data, the FMR serves as a critical benchmark for rental pricing in this area. Landlords participating in the Section 8 program can expect to receive up to $1400 per month for eligible units, which may influence their decisions regarding property investments and management strategies.
The data signature for ZIP 38054 reads as "stable," given the consistent presence of Section 8 voucher support without significant fluctuations in the available data points. Despite the limited population size, the established FMR provides a reliable indicator for rental expectations. Landlords and investors should consider the potential benefits and challenges associated with serving a small, stable community while also being mindful of the limited demographic insights. Engaging directly with local housing authorities and tenants could offer additional context for making informed investment 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.