Location: Decatur County, TN | Metro: Decatur County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,330 |
| 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 38311 is situated in a predominantly owner-occupied neighborhood with a total population of 724 residents. Only 6.8% of the residents are renters, indicating a low demand for rental properties in the area. The median household income stands at $68,203, suggesting a middle-class community where most residents can afford to own homes rather than rent. The median home value in ZIP 38311 is $234,803, which reflects the modest cost of homeownership relative to the local income levels.
From an investment perspective, the Fair Market Rent (FMR) for the metro area covering fiscal year 2026 is set at $940. This figure represents the government's benchmark for determining the maximum allowable rent for Section 8 vouchers. However, the lack of available market rent data makes it challenging to assess the competitive landscape for rental properties. Despite this, the low percentage of renters implies limited opportunities for rental income growth without significant efforts to attract tenants.
Given these conditions, ZIP 38311 may be better suited for a hands-off Section 8 voucher operator rather than a hands-on value-add buyer. The relatively low number of potential renters means that landlords must rely heavily on the stability of Section 8 vouchers to ensure consistent occupancy and income. Value-add strategies, such as renovations or improvements to increase rental rates, might not yield substantial returns due to the limited demand for rentals in the area. Therefore, for those looking to invest in a stable, low-maintenance portfolio, Section 8 properties in ZIP 38311 could provide reliable cash flow, especially if the focus is on maintaining a steady stream of voucher holders.
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.