Location: Jackson, TN | Metro: Jackson, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
ZIP code 38302 falls within the Jackson, TN HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 38302 is set at $1160 for fiscal year 2024. However, specific market rents and home values for this ZIP code are currently unavailable.
To contextualize the data for ZIP 38302 within the Jackson, TN HUD Metro FMR Area, it's necessary to consider the typical metrics for other ZIP codes in the area. In the absence of direct comparisons, we can infer that since the FMR is a government-set benchmark, it likely reflects a reasonable midpoint between low-cost and high-cost housing options within the broader Jackson metro region.
The lack of available market rent and home value data suggests that ZIP 38302 might be less populated or have fewer real estate transactions compared to other areas within the metro. This could indicate that it is either a smaller community or an emerging market where data collection is not as robust or frequent.
Given the FMR figure of $1160, without specific market rent and home value data, ZIP 38302 appears to be a mid-tier neighborhood within the Jackson, TN HUD Metro FMR Area. It's neither at the premium end nor in the value pocket category based solely on the FMR. To determine if it's a Section 8 sweet spot, we would need to know the exact percentage of renters and compare it against the home values. Since both are currently unavailable, we cannot conclusively state its status as a sweet spot, but the combination of a defined FMR and unknown market rents/home values indicates a need for further investigation into local rental trends and property values.
Data Sources: FMR data from HUD (2027).
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.