Location: Carroll County, TN | Metro: Carroll County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The ZIP code 38235 stands out due to its unique demographic and economic characteristics. With only 199 residents, it represents a small community where nearly one in four residents (26.9%) are renters. The median income in this area is $63,750, which is noteworthy considering the lack of available data on median home values suggests that homeownership might be less common or difficult to assess accurately.
From a voucher economics perspective, the Federal Market Rent (FMR) for the fiscal year 2026 is set at $990, whereas the current market rent, according to the Census ACS, is $935. This indicates that landlords participating in the Section 8 program can expect a slight premium over the typical market rates when renting to tenants with vouchers.
Given the limited number of residents and the significant portion of renters, the ZIP 38235 appears to have a transitional character rather than being stable. The dynamics of a small community can shift rapidly, influenced by factors such as job availability, housing stock, and the overall economic climate. Landlords and small-portfolio investors should consider these aspects when deciding to participate in the Section 8 program within this ZIP code. While the potential for slightly higher rental income exists, the environment's transitional nature means that ongoing monitoring of local trends is essential for informed decision-making.
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.