Location: Putnam County, TN | Metro: Putnam County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
ZIP code 38502, located within Putnam County, TN, has a Fair Market Rent (FMR) of $1,010 for fiscal year 2026. This figure is critical for understanding the rental landscape in the area, particularly for those involved with Section 8 housing programs.
The FMR of $1,010 suggests that 38502 is likely a value pocket within the Putnam County, TN metro. To put this into perspective, we need to consider the typical characteristics of ZIP codes within this region. While the specific market rent and home value figures for 38502 are currently unavailable, the lack of data on these points does not necessarily indicate lower values. Instead, it highlights a gap in comprehensive real estate reporting for this particular ZIP code.
In comparison to other ZIP codes in Putnam County, TN, an FMR of $1,010 is indicative of relatively affordable rental properties. Typically, premium sub-markets within a metro area would have higher FMRs and market rents, reflecting a demand for higher-end housing options. Mid-tier neighborhoods usually fall somewhere between the two extremes, offering a balance between affordability and quality.
The absence of a specific renter share percentage makes it challenging to definitively classify 38502's position within the metro. However, given the affordable nature of the FMR, it can be inferred that there might be a significant number of renters in the area who could benefit from Section 8 assistance. This would make 38502 a potentially attractive location for landlords seeking to participate in the Section 8 program, as it aligns with the goal of providing affordable housing to low-income tenants.
To determine if 38502 is a Section 8 sweet spot, additional data on the local renter share and home values would be beneficial. High renter share with below-average home values often indicates a strong demand for subsidized housing, which is a key characteristic of a Section 8 sweet spot. Until more detailed information becomes available, the current FMR suggests that 38502 offers a valuable opportunity for landlords looking to cater to the needs of affordable housing seekers within the Putnam County, TN metro.
Data Sources: FMR data from HUD (2027).
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.