Location: Putnam County, TN | Metro: DeKalb County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The ZIP code 38582 is situated in a suburban neighborhood characterized by a relatively low population density of 1,729 residents. This area is predominantly owned, with only 4.8% of the population being renters, indicating a community where homeownership is the norm. The median household income stands at $93,333, reflecting a middle to upper-middle-class demographic. The median home value in this ZIP is $359,341, which suggests that the homes here are generally priced above average but still within reach for many families.
Transitioning into the economic realities of renting in this ZIP, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $930. However, specific market rent data for ZIP 38582 is currently unavailable, making it difficult to compare FMR against local rental rates directly. This lack of data could imply that the rental market is sparse, aligning with the low percentage of renters in the area.
Given these factors, ZIP 38582 would likely be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The limited number of renters and the higher median income suggest that tenants receiving Section 8 vouchers might face challenges finding suitable housing in this area. Additionally, the high median home value indicates that properties are already commanding premium prices, reducing the potential for significant value addition through improvements or renovations.
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.