Location: Weakley County, TN | Metro: Obion County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The median income in ZIP code 38253 stands at $69,954, which provides a solid foundation for evaluating rental affordability. The market rate for rent, according to Census ACS data, is $683 per month. This figure suggests that the average household in this area can comfortably cover the cost of rent without significant financial strain. However, when compared to the federal payment standard for housing vouchers, which is set at $1,150 (FMR for metro FY 2026), there is a notable disparity.
The voucher payment standard is substantially higher than the market rate, indicating that landlords who accept vouchers could receive a significantly larger monthly rental payment than those relying solely on market-rate rents. This difference highlights an opportunity for landlords to consider accepting vouchers to attract tenants and potentially increase their rental income. In a ZIP code with a relatively low renter population of 917 and only 16.3% of households renting, the competition among landlords is likely to be moderate. This means that landlords who offer competitive rental terms and accept vouchers could have a strategic advantage in attracting tenants.
The takeaway for landlords considering whether to adopt a voucher versus cash-pay strategy is clear: accepting vouchers can provide a reliable stream of higher rental payments. Given the affordability gap between the market rate and the voucher standard, landlords in ZIP 38253 should seriously evaluate the benefits of participating in the voucher program. It not only helps secure tenants but also ensures a more stable and potentially higher revenue stream compared to market-rate rentals.
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.