Location: Putnam County, TN | Metro: Putnam County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 38505 represents a small, close-knit community with a total population of 960 residents. Due to the lack of specific data on the percentage of renters and median income, it's challenging to paint a detailed picture of the demographics. However, the median home value remains unspecified, indicating that there might be limited information available on the housing market dynamics within this area.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 38505, as set by HUD for the fiscal year 2026, is $1,040. This figure serves as a benchmark for the rental market within the ZIP code, although the actual market rent and its comparison to the FMR are not provided, suggesting that the FMR could be a significant reference point for landlords and investors operating within this region.
Given the characteristics of ZIP 38505, it would likely appeal more to a hands-off voucher operator rather than a hands-on value-add buyer. The small population size and the potentially stable demand for affordable housing suggest that managing properties under the Section 8 program could be a straightforward and reliable investment strategy. Landlords can expect consistent rental income without the need for extensive property improvements or active management, which is often required in areas with higher volatility in the rental market.
To summarize, ZIP 38505 offers a niche market for Section 8 investors looking for a low-maintenance portfolio. The focus should be on properties that align with the HUD-set FMR of $1,040, ensuring compliance and steady cash flow. This ZIP code is ideal for those who prefer a more passive approach to real estate investment, where the primary goal is to provide stable housing while generating predictable returns.
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.