38136
ZIPFMR
Shelby County, TN
BRFMR
Eff. Rent
0 BR$1,060$870
1 BR$1,154$870
2 BR$1,274$920
3 BR$1,683$1,260
4 BR$1,959$1,420
5 BR$2,253
6 BR$2,591
7 BR$2,979
8 BR$3,426

Purchase Price Calculator

Maximum purchase price
$74,795

Cost breakdown

+Likely effective rent$920
HUD FMR$1,274
Market rentUsed$920
Est. payment standard (90%)$1,150
Market rent is below the inferred standard ($1,150, 90% of FMR).
-Principal and interest-$378
Loan amount$59,836
Down payment$14,959
Rate6.50%
Term30 years
-Operating costs-$342
Property taxes-$75
Insurance-$175
Utilities$0
HOA$0
Management-$92
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,095(100.9% ROI)
Projected value
$80,546
Current value$74,795
Return breakdown
Property appreciation+$5,751
Loan principal paid down+$2,144
Rental cash flow+$7,200
5-year hold
+$25,652(171.5% ROI)
Projected value
$84,624
Current value$74,795
Return breakdown
Property appreciation+$9,829
Loan principal paid down+$3,823
Rental cash flow+$12,000
10-year hold
+$54,058(361.4% ROI)
Projected value
$95,744
Current value$74,795
Return breakdown
Property appreciation+$20,949
Loan principal paid down+$9,109
Rental cash flow+$24,000

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Market Alignment

FMR / market rent by bedroom; grey wings show the 90-110% payment-standard spread.

Studio
Studio
1.22ratio
FMR$1,060
Market$870
vs market+$190

FMR is above market; underwrite to market rent.

90% standard$954 / 1.10 ratio110% standard$1,166 / 1.34 ratio
1.22
1 BR
1 BR
1.33ratio
FMR$1,154
Market$870
vs market+$284

FMR is above market; underwrite to market rent.

90% standard$1,039 / 1.19 ratio110% standard$1,269 / 1.46 ratio
1.33
2 BR
2 BR
1.38ratio
FMR$1,274
Market$920
vs market+$354

FMR is above market; underwrite to market rent.

90% standard$1,147 / 1.25 ratio110% standard$1,401 / 1.52 ratio
1.38
3 BR
3 BR
1.34ratio
FMR$1,683
Market$1,260
vs market+$423

FMR is above market; underwrite to market rent.

90% standard$1,515 / 1.20 ratio110% standard$1,851 / 1.47 ratio
1.34
4 BR
4 BR
1.38ratio
FMR$1,959
Market$1,420
vs market+$539

FMR is above market; underwrite to market rent.

90% standard$1,763 / 1.24 ratio110% standard$2,155 / 1.52 ratio
1.38
0.700.800.901.001.101.201.30aligned range

HUD benchmarks exceed market rents across all bedroom sizes.

Historical
FY 2022-2026

Data freshness

FMR
FY2026
Market rent
last ~365 days
About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for 38136 (TN) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled FMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.

38136 fair market rent and Section 8 rent limits

The FY 2026 HUD Fair Market Rent (FMR) page for 38136 shows monthly rent limits by bedroom size for Housing Choice Voucher and Section 8 comparisons. The 2 bedroom fair market rent is $1,274 and the 4 bedroom fair market rent is $1,959.

Use this page for searches like 38136 FMR, 38136 fair market rent, and 38136 Section 8 payment standards. Local housing authorities can set payment standards above or below published HUD FMR, so confirm program rules before underwriting a property.

FY 2026 Fair Market Rent by bedroom size for 38136
Bedroom sizeHUD FMR
Studio$1,060
1 bedroom$1,154
2 bedroom$1,274
3 bedroom$1,683
4 bedroom$1,959