Section 8 Fair Market Rent (FMR) for ZIP 38366 - 2027

Location: Jackson, TN | Metro: Jackson, TN HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$800
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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,336

Median Household Income

$58,802

Housing Units

1,093

Renter Percentage

17.7%

Occupancy Rate

87.7%

Renter Occupied

170

The ZIP code 38366, located in Tennessee, offers a stable market for real estate investments, particularly for those interested in Section 8 housing opportunities. The area is characterized by a mix of residential properties, with a notable presence of rental units that cater to families and individuals seeking affordable housing solutions.

The Fair Market Rent (FMR) for ZIP 38366 in fiscal year 2024 is set at $1030. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 program, ensuring a consistent revenue stream for property owners participating in the program.
The market rent for the area, according to Census ACS data, stands at $948. This indicates that the rental market is slightly below the FMR, which could be advantageous for landlords who wish to attract tenants outside of the Section 8 program without significantly undercutting their potential income.
The median home value in ZIP 38366 is $194,693. This relatively low value suggests that there is ample opportunity for investors to acquire properties at a reasonable cost, potentially increasing their return on investment through rental income or property appreciation over time.
Renters make up 17.7% of the population in this area. This percentage highlights a moderate demand for rental properties, balancing between high competition and low occupancy risks.
The median income for residents in ZIP 38366 is $58,802. This level of income supports a healthy tenant pool capable of meeting the requirements for Section 8 eligibility, while also being within the range where a majority can afford market rents.

Synthesizing these points, ZIP 38366 presents a balanced opportunity for real estate investors. With a median home value that is accessible and a fair market rent that exceeds the average market rent, landlords can secure steady income through participation in the Section 8 program or by renting at market rates. The moderate renter share and median income levels indicate a sustainable tenant base, reducing the risk of vacancy. Overall, the area's economic profile supports both short-term rental strategies and long-term property ownership, making it a viable option for small-portfolio investors looking to diversify their holdings in a stable market.

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.