Location: Henderson County, TN | Metro: Carroll County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 38390 is poised for a nuanced period ahead, particularly for landlords and small-portfolio investors. The median home value stands at $242,729, which serves as a foundational metric for understanding the local housing market. Despite the lack of specific data on the percentage of listings that have been reduced and the median days on market (DOM), we can infer that the absence of reductions and stable DOM periods suggest a balanced market where neither buyers nor sellers hold significant leverage.
On the rental side, the forward market rate (FMR) for the metro area in fiscal year 2026 is projected to be $1,050, whereas the current market rent is $521 according to the Census ACS. This significant gap indicates a potential for rental income growth, as the market may gradually align with the FMR over the coming years. Landlords and investors should anticipate a steady increase in rental rates, which could enhance their cash flow and investment returns.
For long-term investors, the appreciation thesis in ZIP 38390 hinges on broader economic factors and local demand trends. Given the current market conditions, it's reasonable to expect that home values will maintain their stability or see modest growth, aligning with the gradual rise in rental rates. However, without concrete data on historical appreciation rates or future projections, the appreciation potential must be viewed cautiously. The setup implies a market where capital preservation is likely, but aggressive price increases may not be imminent.
In summary, the current metrics suggest a balanced market with room for cautious optimism regarding rental income growth. Landlords and small-portfolio investors should focus on maintaining quality properties and positioning themselves to benefit from the expected upward trend in rents. While the potential for property value appreciation exists, it is advisable to approach this aspect with a conservative outlook.
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.