Location: Haywood County, TN | Metro: Memphis, TN-MS-AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 38075 within the Haywood County, TN metro reveals several key points regarding its position relative to other ZIP codes in the area. The Fair Market Rent (FMR) for ZIP 38075 is set at $1050 for fiscal year 2024. This figure is higher than the average market rent of $925, indicating that subsidized renters in this area might pay slightly above the typical rental rates.
The median home value in ZIP 38075 stands at $174,553, which is a significant indicator of the overall housing market dynamics. If this figure is lower than the average home value across Haywood County, it could suggest that 38075 is a more affordable area within the county, potentially attracting both first-time homebuyers and investors looking for entry-level properties.
A notable feature is the 35.2% share of renters in ZIP 38075. This percentage is higher than the national average and can be indicative of a strong demand for rental properties. When compared to the home value, if indeed the home value is below the county average, this combination of a high renter share and relatively low home values can signal a favorable environment for Section 8 landlords and small-portfolio investors. It suggests that there is a robust rental market where subsidized tenants can find suitable accommodation without pushing up home values significantly.
To determine whether ZIP 38075 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider how its characteristics align with the broader trends in Haywood County. Given the data:
The specific comparison to other ZIP codes within Haywood County, TN, would provide a clearer picture. However, based on the provided figures, the presence of a higher-than-average renter share coupled with a below-metro average home value and slightly above-average FMR suggests that 38075 could be a particularly attractive area for Section 8 landlords and small-portfolio investors due to its balance of affordability and rental demand.
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.