Location: Crockett County, TN | Metro: Crockett County, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
In ZIP code 38337, potential issues for Section 8 landlords include significant tenant turnover due to the difference between the market rent of $915 and the Fair Market Rent (FMR) of $1040 for fiscal year 2024. This gap can lead to frequent changes in occupancy, which increases administrative burdens and costs associated with re-leasing units. Additionally, the vacancy exposure is a concern, as the number of days on market (DOM) is not available, indicating uncertainty in how quickly vacant properties can be filled. The typical home value in this area is $207,312, while the median income stands at $63,575, suggesting that many homeowners may be financially stretched and less likely to invest in timely maintenance, thereby increasing the risk of deferred maintenance issues.
However, these risks must be weighed against the high proportion of renters in the area, which stands at 32.9%. A high renter share typically correlates with higher demand for rental housing, including those who rely on Section 8 vouchers. This increased demand can stabilize the rental market and provide a steady stream of tenants willing to pay the FMR, reducing the likelihood of extended vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 38337.
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.