Section 8 Fair Market Rent (FMR) for ZIP 38776 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP 38776 in fiscal year 2026 is set at $840 for a metropolitan area. This figure raises several concerns for landlords and small-portfolio investors considering investment in this area.

• Will FMR $840 cover the mortgage on a home? Data indicates that the median home value in ZIP 38776 is currently listed as N/A, which makes it difficult to accurately calculate whether the FMR can cover a mortgage. However, based on typical mortgage calculations, a monthly rent of $840 might be insufficient for covering the mortgage on a home valued above $150,000, depending on interest rates and loan terms. Investors should consult local real estate agents or mortgage calculators to determine precise figures.
• Is there enough renter demand at N/A%? Information on the exact percentage of renter demand in ZIP 38776 is not readily available. Nevertheless, recent trends suggest a steady rental market, with the typical rent for a 1-bedroom property decreasing 4.9% over the past year to $768/month. This implies that while the demand may fluctuate, there is a consistent presence of renters in the area. For a more detailed analysis, investors should look into local rental vacancy rates and population growth trends.
• Will vouchers keep pace with N/A market rents? While the FMR for ZIP 38776 is $840, the historical trend of voucher usage suggests that the government adjusts these amounts annually to reflect changes in the rental market. In fiscal year 2026, the FMR represents the 40th percentile rate in the area, indicating that half of the rentals are below this amount. However, the specific pace at which vouchers adjust to match market rents in ZIP 38776 is not clearly defined in the data. It is advisable for investors to monitor the Housing Choice Voucher (HCV) Data Dashboard provided by HUD for updates on voucher payment trends and adjustments.

In conclusion, while the data provides some insights into the rental market and voucher usage trends in ZIP 38776, it lacks specifics regarding median home values and precise renter demand percentages. These uncertainties highlight the need for thorough local research before making investment decisions.

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.