Location: Gibson County, TN | Metro: Gibson County, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
15.4% of residents in ZIP code 38338 are renters, indicating a modest demand for rental properties. $860 is the Fair Market Rent (FMR) for the area as of fiscal year 2024, which sets the standard for rental assistance payments under the Section 8 program. Despite the lack of specific data on market rent and median home values, the median income of $56,250 provides insight into the financial capacity of local residents. This figure suggests that many households could qualify for rental assistance, given the relatively low FMR compared to their income levels. The absence of data on days on market (DOM) and the percentage of homes that have had their prices cut indicates stability in the housing market, without significant fluctuations or prolonged vacancies. For landlords and small-portfolio investors, the key takeaway is that the Section 8 program can provide a steady stream of tenants who are financially supported to meet the FMR. Given the context, the Section 8 program in ZIP 38338 is a reliable option for securing long-term, stable occupancy.
Section 8 Verdict: Acceptable for securing stable tenancy at $860 FMR.
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.