Location: McNairy County, TN | Metro: Jackson, TN HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 38359 in McNairy County, Tennessee, reveals several key points. The Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for FY 2024 is $870. However, the market rent data for this area is currently unavailable, making direct comparisons challenging.
Given the median home value in ZIP 38359 is $138,195, we can infer that the overall cost of living in this area is relatively low. This suggests that the rent-to-price ratio would be favorable for investors looking to leverage the lower costs associated with housing in this region. The FMR of $870 is likely to cover the basic operating expenses for most rental properties, ensuring that voucher tenants can cashflow at this rate without significant financial strain.
However, due to the lack of market rent data, it's difficult to determine if voucher tenants would cashflow marginally or only with premium units. Typically, areas with lower median home values see more competitive cashflow scenarios for Section 8 properties, but this cannot be confirmed without current market rent figures.
The median days on market (DOM) and the percentage of price cuts are also unavailable, which means we cannot assess the exact speed of property sales or the frequency of price reductions in the area. Despite this, the low median home value implies that the buy-versus-rent decision might favor renting, especially for those relying on Section 8 vouchers.
The strongest investor angle in ZIP 38359 is likely to be stability. With a defined FMR and a low-cost housing market, investors can expect consistent rental income and less volatility compared to higher-priced markets. This makes ZIP 38359 an attractive option for landlords and small-portfolio investors seeking reliable returns through Section 8 tenancy.
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.