Section 8 Fair Market Rent (FMR) for ZIP 79239 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 79239

• Housing Authority of Memphis (Memphis, TX)

To determine if you should buy in ZIP code 79239 for Section 8 purposes, follow this decision tree:

• 1) Does the Fair Market Rent (FMR) of $990 for the metro area in fiscal year 2026 cover your debt service?
  • If YES, proceed to the next question.
  • If NO, purchasing a property in this ZIP code for Section 8 is not financially viable due to the inability to cover expenses.
• 2) Is the market rent above, at, or below the FMR?
  • If above, then Section 8 tenants might not be able to afford the market rate, reducing the pool of potential tenants.
  • If at or below, then the market aligns well with FMR, making it possible for Section 8 tenants to cover rent.
• 3) Do the 13.0% of renters combined with the days on market (DOM) indicate sufficient demand?
  • If the DOM is low, say under 30 days, this suggests strong demand and a good opportunity for Section 8 properties.
  • If the DOM is high, indicating over 60 days, this implies weaker demand, making it harder to fill vacancies with Section 8 tenants.

The final decision will depend on the answers to these questions. If the FMR covers your debt service, the market rent is at or below FMR, and the DOM is low, then the answer is YES. If any of these conditions are not met, the answer shifts to NO or IT DEPENDS, requiring further analysis into specific property costs and local rental market dynamics.

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.