Location: Benton County, TN | Metro: Benton County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 38221 in the metro area for fiscal year 2026 is set at $930. This figure represents the maximum amount that a landlord can receive through the Section 8 program for renting a unit in this area. It's important to note that this is the payment standard set by the U.S. Department of Housing and Urban Development (HUD), and it does not reflect the actual rent you will charge your tenants.
In comparison, the average rent in ZIP 38221 based on Census ACS data is $639. This suggests that the market rent is lower than the HUD-set FMR, meaning that landlords participating in the Section 8 program can potentially receive higher payments than the typical market rate. However, the FMR is designed to cover a broad range of housing conditions and sizes, so individual units may vary in value.
The demand for rental properties in ZIP 38221 is strong, with 36.0% of households being renters. This high percentage indicates a significant portion of the population looking for affordable housing options, making it a viable market for Section 8 rentals.
If you're considering acquiring a property for your first Section 8 rental, the median home value in ZIP 38221 is approximately $187,707. This can help you estimate the potential investment required to enter this market. Keep in mind that the acquisition cost should be balanced against the long-term benefits of stable income and a reliable tenant base.
Before proceeding with a Section 8 rental in ZIP 38221, verify that the property meets all the necessary inspection criteria set by HUD. These inspections ensure that the housing is safe, decent, and sanitary, and failing to meet these standards can result in disqualification from the program.
To summarize, the FMR of $930 provides a guideline for the maximum subsidy payment you can receive, which is higher than the local average rent of $639. With a renter share of 36.0%, there is a substantial demand for affordable housing. The median home value of $187,707 gives an idea of the acquisition cost. Ensure the property passes HUD inspections to avoid any issues once you're in the 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.