Location: White County, TN | Metro: Van Buren County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
The ZIP code 38559 presents a viable opportunity for landlords interested in attracting Section 8 tenants. With a population of 1,551, nearly one-quarter (25.7%) of residents are renters, indicating a significant demand for rental properties. This percentage suggests that the area is renter-heavy rather than dominated by homeowners, which aligns well with the potential for a robust Section 8 tenant pool.
The median household income in 38559 is $43,961. Considering the market rent of $975, this represents approximately 22.2% of the median income. The Fair Market Rent (FMR) for the metro area, set at $1,060 for FY 2026, is slightly higher than the current market rent, suggesting that there is room for modest rent increases while still remaining within the affordable range for many households.
To further contextualize, the FMR is designed to ensure that housing costs do not exceed 30% of a household's income. In 38559, the $975 market rent consumes less than this threshold, making it a relatively affordable option for most residents. However, given the lower median income compared to the FMR, landlords should be prepared to offer rents closer to the $975 market rate to attract a substantial number of Section 8 tenants.
The type of tenant profile landlords in 38559 should expect includes individuals and families who rely on government assistance to secure housing. These tenants will likely have a variety of needs and backgrounds, but the common thread is their reliance on rental subsidies to afford living spaces. Landlords should ensure they comply with HUD regulations and understand the process of accepting Section 8 vouchers, which can include a mix of private and public funding sources.
In summary, ZIP 38559 offers a solid foundation for landlords looking to cater to a Section 8 tenant pool, with a significant portion of the population being renters and the market rent falling below the FMR. The typical rent eats a reasonable portion of the local income, making it a balanced market for both affordability and profitability.
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.