Location: Crockett County, TN | Metro: Jackson, TN HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $217,343 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 38343 has a population of 15,837 residents, with 32.9% being renters. This indicates that it is a moderately renter-heavy area, but not dominated by renters. The median household income in this ZIP is $58,260, which provides insight into the economic status of potential tenants.
The market rent in ZIP 38343 is $809, representing approximately 14% of the median household income. This suggests that the typical rent is relatively affordable compared to the local income levels. However, when considering the Fair Market Rent (FMR) set at $900 for FY 2024, the current market rent is slightly below this benchmark, indicating that there might be some flexibility in pricing for landlords.
The presence of a significant portion of renters in the area implies a substantial demand for rental properties, likely including those who rely on housing vouchers. Landlords in this ZIP can expect a mix of tenants, including those who are financially independent and those who may require assistance through Section 8 vouchers. Given the income levels and the market rent, tenants receiving vouchers would find the area accessible, especially since the market rent is lower than the FMR.
In summary, ZIP 38343 is an area with notable rental demand, supported by a moderate percentage of renters. The median household income allows for a reasonable proportion of income to be allocated towards rent, making it a viable location for landlords and small-portfolio investors. The expected tenant profile includes both self-sufficient individuals and those utilizing Section 8 vouchers, with the latter finding the area particularly suitable due to the current market conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.