Section 8 Fair Market Rent (FMR) for ZIP 38877 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 38877 in metro FY 2026 is set at $840. This figure represents the payment standard used by the Housing Choice Voucher Program, commonly known as Section 8. It's important to note that this is not the amount you will charge tenants as rent; rather, it's the maximum amount that the government will pay towards a tenant's rent if they participate in the Section 8 program.

In ZIP 38877, the local average rent is currently listed as N/A, which makes direct comparison challenging. However, the FMR can serve as a benchmark to ensure your rental rates remain competitive and fair. The N/A% of renters who rely on housing assistance in this area indicates a significant demand for affordable housing options. This percentage suggests that there is a market for Section 8 rentals, as many residents are looking for financial support to cover their housing costs.

When acquiring a property in ZIP 38877, the typical price is also noted as N/A. Before making any investment decisions, it's crucial to verify that your proposed rental income, including the Section 8 voucher contribution, will cover your mortgage payments, maintenance costs, and other expenses associated with owning a rental property.

To proceed confidently, ensure you check the specific eligibility criteria for properties in the Section 8 program. This includes confirming that your rental unit meets all health and safety standards required by HUD, as these inspections are mandatory and can affect whether your property qualifies for the program.

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.