Location: White County, TN | Metro: White County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The market in ZIP code 38587 presents a dynamic environment for real estate investors, particularly those interested in Section 8 properties. With a Fair Market Rent (FMR) set at $930 for the fiscal year 2026, landlords can expect a benchmark that reflects the current rental landscape. The absence of recent market rent data suggests a lack of immediate volatility, but it also means landlords should closely monitor local trends to ensure their rents remain competitive.
The median home value of $294,963 indicates a stable housing market, suggesting that property values have likely held steady or grown modestly over time. This stability can be beneficial for investors looking to secure long-term assets without the risk of rapid depreciation or appreciation.
A key indicator of market dynamics is the renter share, which stands at 10.6%. This relatively low percentage implies that the majority of residents in ZIP 38587 own their homes rather than renting. However, this same figure also highlights a persistent long-term housing pressure. As a smaller portion of the population opts for renting, the demand for rental units, especially affordable ones, remains significant. Landlords who can offer quality rental properties at or near the FMR will likely find a steady stream of tenants, given the ongoing need for affordable housing options.
The dynamics of this market suggest a balance between supply and demand, leaning slightly towards demand. The FMR serves as a guideline for affordability, ensuring that rental properties are accessible to a broader segment of the community. Given the median home value, it's reasonable to infer that there might be a segment of the population that finds homeownership challenging, thus relying on rental options. This reliance underscores the importance of maintaining a healthy rental sector to support those who cannot afford to purchase homes.
In conclusion, ZIP 38587 offers a stable yet active real estate market for Section 8 investors. While the exact trajectory of supply versus demand is unclear from the static data, the combination of a defined FMR and a lower-than-average renter share points to a scenario where rental properties play a crucial role in addressing housing needs. Landlords who understand these dynamics and position themselves accordingly can benefit from a market that values both ownership and rental opportunities.
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.