Location: Wayne County, TN | Metro: Wayne County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
When considering whether to purchase a property in ZIP code 38452 for Section 8 investment, follow this decision tree:
1) Does FMR ($950 for metro FY 2026) clear debt service on a $238,968 property?
No. The Fair Market Rent (FMR) of $950 per month is insufficient to cover the typical debt service on a $238,968 property. Debt service includes mortgage payments, property taxes, insurance, and maintenance costs. For a property of this value, these expenses would likely exceed $950 monthly, making it financially unfeasible without additional income sources or subsidies.
It depends. If you can secure a low-interest loan or if property taxes and insurance are exceptionally low, the FMR might just clear the debt service. However, this scenario is unlikely given standard rates and fees associated with properties valued around $238,968.
Yes. Only under very favorable conditions, such as a highly subsidized mortgage rate or minimal property tax and insurance costs, could the FMR of $950 per month be sufficient to cover the debt service. This situation is rare and requires thorough investigation into local financing options and costs.
2) Is market rent (N/A) above, at, or below FMR?
N/A. There is currently no available data on the market rent for ZIP code 38452. Without this information, it's impossible to determine how market rents compare to the FMR. This uncertainty poses a risk to your investment strategy.
3) Are 4.6% renters + N/A-day DOM enough demand?
No. With only 4.6% of the population being renters and the days on market (DOM) being unspecified, there isn't enough demand to justify an investment based solely on Section 8 tenants. A higher percentage of renters and lower DOM would indicate a stronger rental market and potentially more stable demand.
It depends. If the unspecified DOM is relatively low, indicating quick turnover in rental properties, then the 4.6% of renters might suffice. However, this still suggests a limited pool of potential tenants compared to areas with a higher percentage of renters.
Based on the available data, investing in ZIP code 38452 for Section 8 purposes is not recommended unless you can find a property that meets all criteria favorably, which is unlikely given the current information.
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.