Location: Weakley County, TN | Metro: Obion County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 38261 has a population of 16,385, with 38.8% of residents being renters. This indicates that it is a moderately renter-heavy area, but not dominated by rental properties. The median household income in this ZIP code is $55,876, which provides a baseline for understanding the financial capacity of potential tenants.
The typical market rent of $761 represents approximately 13.6% of the median household income. This calculation is derived from dividing the monthly rent by the annual median income and multiplying by 12. In comparison, the Fair Market Rent (FMR) for the metro area is set at $930 for fiscal year 2026, indicating that the market rent in ZIP 38261 is below the FMR, suggesting a potentially strong demand for rental units within this price range.
A landlord in ZIP 38261 should anticipate a tenant pool that is likely to include a significant number of individuals and families relying on housing vouchers. Given the proportion of renters and the income levels relative to the market rent, these tenants would find the $761 rent affordable, as it consumes a reasonable portion of their income. The fact that the market rent is lower than the FMR also suggests that there could be ample opportunities for voucher holders to secure housing within this ZIP code.
To summarize, the ZIP code 38261 offers a moderate to strong opportunity for landlords and small-portfolio investors interested in Section 8 tenants. With nearly 40% of the population renting and the market rent being well below the FMR, it is a viable area for those looking to cater to voucher-supported tenants who seek affordable housing options.
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.