Section 8 Fair Market Rent (FMR) for ZIP 38152 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,040
1 Bedroom	$1,130
2 Bedrooms	$1,240
3 Bedrooms	$1,640
4 Bedrooms	$1,890
5 Bedrooms	$2,192
6 Bedrooms	$2,455
7 Bedrooms	$2,651
8 Bedrooms	$2,784

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The data provided does not directly address the specific concerns about median home values, rental vacancy rates, or the relationship between market rents and voucher rates for ZIP 38152. However, we can still discuss the key points based on the available information and typical considerations for real estate investment.

A skeptical investor might question whether the Fair Market Rent (FMR) of $1230 for ZIP 38152 in fiscal year 2024 will sufficiently cover the mortgage on a property. This concern is valid, as it is crucial that rental income meets or exceeds the mortgage payments. Without the exact median home value, it is difficult to determine the precise mortgage amount. However, it is important to note that the FMR is set to ensure that rental properties are financially viable.

The second objection could be about the level of renter demand at a certain occupancy rate. The rental vacancy rate is a critical metric for understanding the supply and demand dynamics in an area. While we do not have the specific vacancy rate for ZIP 38152, high population density suggests a robust demand for rentals. Landlords should consider the overall economic health and job market of the area to gauge potential demand.

Lastly, an investor might wonder if Section 8 vouchers will keep pace with market rents in ZIP 38152. The FMR of $1230 is the benchmark for voucher rates, but it is essential to track local market conditions. If the market rents rise significantly above the FMR, vouchers may not cover the full cost of renting. Landlords should monitor trends in rental pricing and government funding to anticipate any discrepancies.

In summary, while we lack some specific data points, the Fair Market Rent serves as a foundational guideline for rental pricing. Investors must also consider broader economic factors and stay informed about changes in both the housing market and government assistance programs.

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.