Location: McNairy County, TN | Metro: McNairy County, TN
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 | $880 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,590 | $202,159 | 0.79% | D |
U.S. Census Bureau data (2024)
19.6% of residents in ZIP 38367 are renters, indicating a significant portion of the population relies on rental housing. This statistic is crucial for landlords and small-portfolio investors looking to understand the local demand. With a Fair Market Rent (FMR) of $1,010 for metro areas in fiscal year 2026, it's important to note that the actual market rent, according to the Census ACS, is $918. This suggests that while the FMR provides a benchmark, the real estate market in 38367 may offer slightly lower rents.
$58,571 is the median income in ZIP 38367, which can help investors gauge the financial capacity of potential tenants. The median home value stands at $169,814, reflecting the overall cost of homeownership in the area. However, for those interested in the rental market, the median income figure indicates that there might be a need to offer affordable housing options to cater to the majority of the population.
The data does not provide specific days on market (DOM) or percentage of price-cut shares for the area, which means that the turnover rate and the necessity to reduce asking prices for homes or rentals cannot be directly assessed from the given figures. Nonetheless, the gap between the FMR and the actual market rent could imply that landlords might face some competition in setting higher rents.
In conclusion, for landlords and small-portfolio investors, the figures paint a picture of a market where affordable rental options are key. The slight difference between the FMR and market rent, combined with the median income and renter share, suggests a competitive yet stable rental environment. The median home value also points towards an opportunity for investment in properties that can be rented out at rates reflective of the local economy.
Verdict: ZIP 38367 is suitable for Section 8 investments, given the alignment of median income with the affordable housing needs and the established rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.