Location: Lawrence County, TN | Metro: Giles 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 | $1,040 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,630 | $294,140 | 0.55% | F |
U.S. Census Bureau data (2024)
The ZIP code 38468, with a population of 5,545, has a rental market that comprises 16.0% of its residents. This indicates that it is neither heavily dominated by homeowners nor overwhelmingly reliant on renters. The median household income in this area is $61,887, which provides a benchmark for assessing the affordability of housing.
Average market rent in ZIP 38468 stands at $1,145. To contextualize this figure, typical rent constitutes approximately 22% of the median household income. This percentage suggests that while rent is a significant expense, it remains manageable for most households without stretching their financial capacity to an unsustainable degree.
Comparing the market rent to the Fair Market Rent (FMR), which is set at $1,160 for fiscal year 2026 in the metropolitan area, reveals that the market rent is slightly below the FMR. This indicates that rents in ZIP 38468 are aligned with the broader regional standards but offer a slight advantage for tenants seeking affordable options.
Given these metrics, landlords in ZIP 38468 can expect a tenant pool that includes individuals and families who benefit from Section 8 housing vouchers. These tenants will likely have incomes that are at or below the area median income (AMI), making the use of vouchers necessary to cover the cost of rent. The demand for vouchers is moderate due to the balanced mix of homeowners and renters, but it is present enough to warrant consideration in rental strategies.
To summarize, landlords should anticipate a tenant profile characterized by a moderate reliance on housing vouchers. These tenants will be drawn to the slightly lower-than-average market rent, which helps offset the impact of their limited income. A strategic approach to accepting Section 8 vouchers can attract a steady stream of tenants capable of meeting their obligations, given the reasonable rent-to-income ratio in this ZIP code.
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.