Location: McNairy County, TN | Metro: Hardin County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
ZIP code 38361, located within McNairy County, TN, presents an interesting case when compared to other typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 38361 stands at $940 for fiscal year 2026, which is a critical figure for landlords and investors considering Section 8 properties. This amount represents the maximum rental payment that the U.S. Department of Housing and Urban Development will allow for housing units in the area.
The median home value in ZIP 38361 is $187,920, indicating that it is relatively affordable compared to other areas within the same county. While the market rent is not available, the FMR can be used as a proxy to gauge the rental market dynamics. With a 5.9% renter share, it suggests that a significant portion of the residents own their homes rather than renting, which could indicate a lower demand for rentals but also a potentially stable investment environment.
When evaluating ZIP 38361 against other typical ZIP codes in McNairy County, TN, it appears to be a value pocket within the metro. The FMR of $940 aligns with the economic realities of the area, providing a reasonable return on investment for landlords who participate in the Section 8 program. Additionally, the median home value of $187,920 is likely lower than the average for the county, making it attractive for investors looking for undervalued real estate opportunities.
The relatively low renter share of 5.9% does not necessarily signal a sweet spot for Section 8 investments, as it indicates a smaller proportion of potential renters. However, the combination of a reasonable FMR and an affordable median home value makes ZIP 38361 a solid choice for those interested in long-term, stable real estate investments within the McNairy County, TN metro. For landlords and small-portfolio investors, the lower home values provide a good entry point into the market without compromising on the rental income potential.
To summarize, ZIP 38361 offers a balanced mix of affordability and rental income potential, positioning it as a value pocket within its metro. The specific figures indicate that while it may not be a premium sub-market, it provides a reliable option for investors seeking steady returns and manageable property costs.
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.