Location: Carroll County, TN | Metro: Carroll County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The analysis for ZIP code 38258 centers around the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for this area in fiscal year 2026 is set at $950, while the Census ACS data indicates the market rent is $908. This creates a gap of $42, or approximately 4.6%, where the FMR exceeds the market rent.
This scenario makes ZIP 38258 a yield play for landlords and small-portfolio investors. Given that the FMR is higher than the current market rent, properties rented to voucher tenants under the Section 8 program will receive payments closer to the $950 FMR, providing a slight financial advantage over renting at the open-market rate of $908.
The broader context of ZIP 38258 includes a rental population of 29.3% and a median home value of $132,881. With a median income of $50,921, the economic landscape suggests that a significant portion of residents rely on affordable housing options, making the Section 8 program particularly relevant.
In summary, the gap between the FMR and the market rent in ZIP 38258 presents an opportunity for landlords to achieve slightly better yields when renting to voucher tenants. This is especially true given the demographic and economic characteristics of 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.