Section 8 Fair Market Rent (FMR) for ZIP 38329 - 2027

Location: Henderson County, TN | Metro: Decatur County, TN

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$870
2 Bedrooms	$1,020
3 Bedrooms	$1,380
4 Bedrooms	$1,390
5 Bedrooms	$1,612
6 Bedrooms	$1,805
7 Bedrooms	$1,949
8 Bedrooms	$2,046

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,166

Median Household Income

$53,052

Housing Units

2,005

Renter Percentage

21.2%

Occupancy Rate

61.6%

Renter Occupied

262

The ZIP code 38329, located in Tennessee, offers a stable real estate market with a mix of rental and homeownership opportunities. The area is characterized by modest housing values and a significant portion of renters, making it an attractive location for small-portfolio investors and landlords looking for steady returns.

Fair Market Rent (FMR): The FMR for ZIP 38329 is set at $930 for the fiscal year 2026, reflecting the government's assessment of what constitutes a reasonable rent for the area.
Market Rent: According to Census ACS data, the average market rent in the area is $786, indicating that there is potential for landlords to increase rents slightly without pricing out tenants.
Median Home Value: The median home value stands at $176,158, which is relatively low compared to other areas in Tennessee, making property acquisition potentially more affordable for investors.
Renter Share: Renters make up 21.2% of the population, showing a significant demand for rental properties and suggesting that landlords can expect a stable tenant pool.
Days on Market (DOM): The data indicates that the days on market for properties is not available, which could mean that sales are either quick or there is limited turnover in the housing market.
Median Income: The median income in ZIP 38329 is $53,052, providing insight into the economic conditions of the area and the potential purchasing power of residents.

In summary, ZIP 38329 presents a balanced investment opportunity with a clear disparity between Fair Market Rent and actual market rent, indicating room for growth. The median home value suggests affordability for property acquisition, while the renter share points to a consistent demand for rental units. Although specific days on market data is unavailable, the median income provides a solid foundation for understanding the financial capabilities of the local population, supporting the feasibility of higher rental rates without exceeding affordability. For investors, this combination of factors signals a promising environment for generating steady rental income and potentially capital appreciation.

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.