Location: McNairy County, TN | Metro: Hardeman County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 38061 presents a market in flux, characterized by a median Fair Market Rent (FMR) of $940 for the fiscal year 2026, indicating a significant benchmark set by the government for rental properties in the area. While the current market rent is not available, the median home value stands at $186,770, offering insight into the overall affordability and desirability of homeownership within this region.
A notable figure is the 29.4% share of renters in ZIP 38061, which suggests that nearly a third of the population opts for rental accommodation. This high percentage can be indicative of several underlying dynamics: it might point towards a younger demographic, individuals who prefer renting over buying, or those who cannot afford to purchase homes due to financial constraints. The substantial proportion of renters signals persistent housing pressure, as a significant portion of the population relies on rental markets rather than owning property.
The absence of specific data regarding the percentage of price-cut share and days on market (DOM) complicates a straightforward assessment of whether supply currently outpaces demand or vice versa. However, the government's setting of an FMR can often reflect an attempt to stabilize rents in areas where demand is robust, suggesting that there could be a tight rental market in 38061.
Landlords and small-portfolio investors should take note of these figures as they navigate the rental landscape. With a strong renter presence, there is likely ongoing interest in rental properties, though the exact balance between supply and demand remains unclear without additional data. The median home value also provides a reference point for understanding the broader economic context of the area, helping to gauge potential competition from the homeownership market.
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.