Section 8 Fair Market Rent (FMR) for ZIP 38257 - 2027

Location: Weakley County, TN | Metro: Obion County, TN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$790
1 Bedroom	$800
2 Bedrooms	$1,040
3 Bedrooms	$1,310
4 Bedrooms	$1,400
5 Bedrooms	$1,624
6 Bedrooms	$1,819
7 Bedrooms	$1,965
8 Bedrooms	$2,063

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

4,437

Median Household Income

$58,849

Housing Units

2,168

Renter Percentage

27.1%

Occupancy Rate

86.7%

Renter Occupied

510

The ZIP code 38257, located in Tennessee, is a region that offers a mix of residential and commercial opportunities, with a focus on affordable housing solutions. This area is particularly relevant for investors interested in the Section 8 Housing Choice Voucher program, given its significant rental market presence and the availability of federal funding to support low-income families.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960. This figure represents the maximum amount that landlords can charge tenants who are part of the Section 8 program, ensuring a stable income stream for those participating.
The market rent for the area, based on Census ACS data, stands at $795. This indicates that properties renting below the FMR threshold can still be competitive in the local market, potentially attracting both voucher holders and non-voucher tenants.
The median home value in ZIP 38257 is $154,846. This relatively low value suggests that there is a significant opportunity for investment in single-family homes or multi-unit buildings, especially for those looking to leverage the Section 8 program.
Renters make up 27.1% of the housing market in this area, indicating a substantial portion of the population relies on rental properties. For landlords and small-portfolio investors, this means a steady demand for rental units that can accommodate those receiving housing assistance.
The median income for residents in ZIP 38257 is $58,849. This figure underscores the importance of the Section 8 program in providing affordable housing options, as it aligns closely with the income levels of many residents who may qualify for such assistance.

Investors considering the ZIP 38257 market should recognize the potential for steady, government-backed rental income through the Section 8 program, coupled with a median home value that allows for attractive returns on investment. The gap between the market rent and the FMR also presents an opportunity to offer competitive rates while still benefiting from the voucher program. With a significant share of renters and median incomes that often necessitate housing assistance, the demand for Section 8-compliant rentals is likely to remain robust.

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.