Location: Hardin County, TN | Metro: Hardin County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 38327 in the metro area for fiscal year 2026 is set at $960. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount the government will pay toward your tenant's rent. However, it's important to note that this does not necessarily reflect the actual rent you can charge.
In comparison, the average rent in ZIP 38327 based on recent Census American Community Survey (ACS) data is $867. This suggests that the FMR is slightly above the local average, which could be beneficial if you're looking to participate in the Section 8 program.
The rental market in ZIP 38327 has a strong demand with 28.2% of residents being renters. This indicates that there is a substantial portion of the population who would be interested in affordable housing options, including those supported by Section 8 vouchers.
If you're considering purchasing a property in this area, the median home value is around $143,814. This figure provides a baseline for the acquisition cost of a typical property, which you should factor into your investment calculations.
Before making your decision, it's crucial to verify the specific requirements of the Section 8 program in your area. Ensure that your property meets the necessary quality standards, known as Housing Quality Standards (HQS), which include safety, health, and habitability criteria. This verification step is essential to avoid potential complications once you've acquired the property.
To summarize, the FMR of $960 offers a competitive advantage over the local average rent of $867, and with a significant 28.2% of residents renting, demand for affordable housing is high. The median home value of $143,814 gives you an idea of the investment cost. Just make sure to check the HQS requirements before proceeding.
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.