Location: Weakley County, TN | Metro: Henry County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 38224 presents a nuanced picture for landlords and small-portfolio investors. With a median home value at $274,801, the area stands as an affordable option compared to many other regions. The data indicating that a percentage of listings have been reduced, though currently marked as N/A, would typically suggest that sellers are adjusting their expectations due to market conditions. This, coupled with the N/A-day median days on market (DOM), points towards a balanced market where neither buyers nor sellers hold overwhelming pricing power.
In terms of rental dynamics, the Fair Market Rent (FMR) for the metro area is projected at $930 for fiscal year 2026. While the exact current market rent for ZIP 38224 is not available, this projection can be used as a reference point for future planning. Landlords should anticipate a gradual increase in rental rates aligning with the FMR trend, which could provide a steady income stream. However, the setup also implies that there might not be significant upward pressure on rents if the local economy does not experience substantial growth.
For long-term investors, the appreciation thesis is contingent upon broader economic trends and local developments. Given the current median home value and the lack of specific data on recent reductions and DOM, it's reasonable to expect moderate appreciation over the next 12-24 months. This expectation is based on historical patterns of modest growth in similar markets and the assumption that the housing market will remain stable. However, the absence of recent fluctuations in listing prices and DOM suggests a cautious approach to investment decisions, emphasizing the importance of diversification and thorough due diligence.
Investors should consider the affordability of the median home value and the potential for rental income growth as key factors in their decision-making process. The setup indicates a market that is likely to offer consistent returns rather than rapid appreciation, making it suitable for those seeking stability in their real estate investments.
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.