Location: Memphis, TN | Metro: Memphis, TN-MS-AR HUD Metro FMR Area
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 | $1,340 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,590 |
| 3 Bedrooms | $2,100 |
| 4 Bedrooms | $2,420 |
| 5 Bedrooms | $2,807 |
| 6 Bedrooms | $3,144 |
| 7 Bedrooms | $3,396 |
| 8 Bedrooms | $3,566 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,590 | $151,729 | 1.05% | B |
| 3BR | $2,100 | $233,869 | 0.9% | C |
| 4BR | $2,420 | $378,600 | 0.64% | D |
| 5BR | $2,807 | $472,822 | 0.59% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) set at $1640 for ZIP code 38133 in Bartlett, TN, for fiscal year 2024, landlords can expect a benchmark for rental pricing. The Zillow Observed Rent Index (ZORI) reflects a slightly lower market rent of $1,519, indicating that while Section 8 rates are generous, there's room for negotiation. A median home value of $273,483 suggests a moderate housing market where property values are stable but not soaring. Renter share stands at 32.1%, showing a significant portion of the population relies on rental properties, which is beneficial for landlords looking to maintain occupancy. Median income in the area is $81,659, providing insight into the economic health of the community and the potential earning capacity of tenants. The average Days on Market (DOM) is 25 days, suggesting a relatively quick turnover for rental listings, which is positive for landlords seeking to minimize vacancy periods. Price-cut share is a modest 0.2%, indicating that property prices in Bartlett are generally holding steady without frequent reductions. Given these figures, the verdict on Section 8 participation is clear: it offers a reliable source of steady rental income, especially for landlords who can navigate the administrative requirements. The combination of generous FMRs, a solid median home value, and a healthy renter base makes Bartlett, TN, a viable location for Section 8 investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.