Location: Memphis, TN | Metro: Memphis, TN-MS-AR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
The analysis of ZIP 38167 reveals that it is a steady-cashflow zone for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1300, which is a reliable figure for rental income. However, the specific data for market values and home values are not available, indicating a lack of recent comprehensive assessments.
The rental market is stable, with the FMR providing a consistent benchmark for expected rents. The median list price for homes in the area is around $140,000 to $250,000, suggesting that property acquisition costs are relatively low compared to the national average. This makes it feasible for investors to acquire multiple properties within the budget constraints typical for small portfolios.
While specific percentages of renters and days on market (DOM) are not provided, the availability of numerous listings indicates a moderate level of activity in the real estate market. The presence of various real estate agencies and brokers suggests a competitive yet stable environment for both buying and renting properties.
The absence of recent income data for the area means that assessing tenant stability purely based on income levels is challenging. However, the combination of a known FMR and accessible property prices supports the conclusion that ZIP 38167 is not a high-yield/low-stability market but rather a zone where steady cash flow can be achieved without excessive risk. This classification is driven by the established FMR of $1300 and the range of home prices available, which do not indicate a volatile market prone to rapid price fluctuations.
Data Sources: FMR data from HUD (2027).
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.