Location: Weakley County, TN | Metro: Obion 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)
In ZIP code 38255, there are several factors that could pose challenges for a first-time Section 8 landlord. Tenant turnover is likely to be higher due to the disparity between the market rent of $617 and the Fair Market Rent (FMR) of $930 for fiscal year 2026 in the metropolitan area. This difference suggests that tenants may struggle to afford the FMR, leading to increased turnover rates as they seek more affordable housing options.
Vacancy exposure is another concern, though the exact number of days on market (DOM) is not available. However, considering the typical home value in the area stands at $155,061, landlords might face difficulties in maintaining properties without significant rental income, especially when the median household income is only $45,990. This income level indicates that many residents rely heavily on rental assistance programs, which can sometimes delay rent payments or require extensive documentation.
The deferred maintenance exposure is also notable. With such a large gap between home values and median incomes, it's probable that many landlords will have to manage properties with limited resources for upkeep, potentially leading to higher maintenance costs over time. This situation can be exacerbated if tenants do not take proper care of the property, knowing that their rent is subsidized.
On the positive side, the high renter share of 25.5% in ZIP 38255 typically translates into robust demand for rental units, including those participating in the Section 8 program. This high concentration of renters often correlates with a higher volume of voucher holders looking for suitable accommodation, thus reducing the risk of vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 38255. The combination of potential tenant turnover and deferred maintenance issues must be balanced against the strong demand for rental properties in the area.
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.