Location: Weakley County, TN | Metro: Weakley County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,190 |
| 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 38241 is characterized by a median home value of $203,387. This figure provides a foundational metric for understanding the overall valuation of properties in the area. While the percentage of listings that have been reduced and the median days on market (DOM) are currently not available, these metrics would typically indicate the flexibility and urgency of sellers. In their absence, we must rely on other indicators to assess the future pricing power.
The disparity between the Fair Market Rent (FMR) at $930 for the metro area in fiscal year 2026 and the current market rental rate of $555 suggests a potential upward trend in rental prices. This gap indicates that there is room for growth in the rental market, which can be beneficial for landlords and small-portfolio investors who are looking to capitalize on rising rents. As the economy recovers and demand for housing increases, it is likely that rental rates will move closer to the FMR, providing an opportunity for higher returns on investment.
For long-term investors, the setup in ZIP 38241 implies a realistic appreciation thesis based on the current low median home value and the potential for rental price increases. The combination of relatively affordable home values and a rental market that is significantly below the projected fair market rent signals that the area could experience gradual property value appreciation over the next 12-24 months. This appreciation would be driven by both increasing demand for housing and the ability to command higher rents as the local economy strengthens and more people seek to live in the area.
The low median home value also means that any appreciation will have a significant impact on the overall value of the investment portfolio. For instance, a modest increase in home values could result in substantial capital gains for properties held at today's prices. Additionally, the potential for rental rates to rise towards the FMR level offers a dual benefit of increased cash flow and enhanced property values due to higher perceived worth based on rental income potential.
In summary, the current median home value of $203,387 combined with the significant gap between the FMR and actual rental rates points to a favorable environment for long-term investment. The setup suggests that both property appreciation and rental income growth are plausible outcomes, making ZIP 38241 an attractive location for landlords and small-portfolio investors seeking steady returns and value growth.
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.