Location: Weakley County, TN | Metro: Carroll County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The ZIP code 38201 represents a significant opportunity for landlords and small-portfolio investors interested in Section 8 tenants. With a population of 10,472, nearly 28.3% of residents are renters, indicating a substantial tenant pool. The median household income in this area is $48,466, which provides a benchmark for assessing the affordability of housing.
In terms of rental costs, the market rent stands at $666 per month, representing approximately 14% of the median household income. This suggests that typical rents are relatively affordable for the majority of residents, making it easier for landlords to attract tenants who can manage their rent payments without financial strain.
Comparatively, the Fair Market Rent (FMR) for the metro area is set at $930 per month for fiscal year 2026. This indicates that the market rent in ZIP 38201 is below the FMR, which could be advantageous for landlords participating in the Section 8 program. The lower market rent means that landlords can potentially offer higher rents within the voucher limits while still being competitive in the local market.
A landlord in ZIP 38201 should expect a tenant profile that includes individuals and families who rely on government assistance for housing. Given the income levels and the relatively low market rent, these tenants will likely have a portion of their rent subsidized by the Housing Choice Voucher Program, allowing them to afford living in units priced up to the FMR. This makes the ZIP code particularly attractive for those willing to navigate the requirements of the Section 8 program, as it offers a steady demand for subsidized rentals.
To summarize, ZIP 38201 is a renter-heavy area with strong demand for Section 8 vouchers, making it an ideal location for landlords looking to serve this tenant base. The combination of a significant percentage of renters and a market rent that is well below the FMR presents a favorable environment for both attracting tenants and managing properties under the Section 8 program.
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.