Location: Maury County, TN | Metro: Maury County, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
U.S. Census Bureau data (2024)
The ZIP code 38482, located within the Maury County, TN HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1390 for fiscal year 2024. This figure represents the median rental cost for a standard unit in the area, adjusted for size and quality. However, it's important to note that the market rent for this ZIP code is currently not available, which means there isn't a direct comparison between the FMR and the actual market rates.
In terms of home values, ZIP 38482 boasts a median value of $497,648. This is significantly higher than what might be considered typical for the broader Maury County, TN HUD Metro FMR Area, where home values are likely to be lower due to the rural nature of the county. The higher home value suggests that this ZIP code could be considered a premium sub-market within its larger metro area, attracting residents who are willing to pay more for housing.
The renter share in ZIP 38482 is 7.6%, which is relatively low compared to urban areas where the percentage of renters can be much higher. This indicates that the majority of the population in this area owns their homes rather than renting. Despite the low renter share, the FMR of $1390 provides insight into the rental market dynamics. If the market rent were available and significantly lower than the FMR, it would suggest a potential value pocket for landlords and small-portfolio investors, particularly those interested in Section 8 housing opportunities.
Given the data, without specific comparisons to other ZIP codes within the same metro area, we cannot definitively classify ZIP 38482 as a value pocket or a mid-tier neighborhood. However, the combination of a defined FMR and a premium home value points towards a sub-market that is somewhat exclusive, with a rental component that is regulated by HUD standards. For landlords and investors focused on Section 8, the ZIP code's characteristics suggest it could offer stable, if not lucrative, investment opportunities, especially if the actual market rents are below the FMR.
To make a more precise determination regarding whether 38482 represents a sweet spot for Section 8 investments, further data on market rents and comparisons with other ZIP codes in the metro area would be necessary. The lack of market rent data currently prevents a full assessment of the area's attractiveness relative to its peers within the Maury County, TN HUD Metro FMR Area.
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.