Location: Carroll County, TN | Metro: Benton County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The ZIP code 38318 stands out in its county with a unique data signature. With only 404 residents, it has an unusually low rental rate of 5.9%, indicating that most residents own their homes. The median income in this area is $107,845, which is relatively high compared to national averages, and the median home value is even higher at $229,009. This suggests a community where homeownership is both affordable and preferred.
Moving to the specifics of Section 8 housing assistance, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $980. However, there is no available data on the local market rent or the number of vouchers issued, which could be due to the limited rental market in the area. Despite the lack of specific market rent data, the FMR provides a benchmark for rental costs that landlords should consider when setting their rates to attract Section 8 tenants.
Given the high median income and median home value, coupled with the low percentage of renters, the data signature for ZIP 38318 reads as stable. There is little indication of significant change in the near future, and the high cost of living, as reflected in the home values, suggests a mature, established community. For landlords and small-portfolio investors, this stability means that while the potential pool of Section 8 tenants may be limited, the overall economic health of the area supports long-term investment strategies.
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.