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Carroll County/Jackson/38305

38305

ZIPSAFMR
Carroll County, TN
Zillow

ZIP Investment Score

84Below average

095130300
BRFMR
Eff. Rent
0 BR$1,040$870
1 BR$1,150$920
2 BR$1,500$1,010
3 BR$1,890$1,620
4 BR$2,070$1,930
5 BR$2,381Not available
6 BR$2,738Not available
7 BR$3,148Not available
8 BR$3,620Not available

Purchase Price Calculator

Maximum purchase price
$88,169

Cost breakdown

+Likely effective rent$1,010
HUD FMR$1,500
Market rentUsed$1,010
Est. payment standard (90%)$1,350
-Principal and interest-$446
Loan amount$70,535
Down payment$17,634
Rate6.50%
Term30 years
-Operating costs-$364
Property taxes-$88
Insurance-$175
Utilities$0
HOA$0
Management-$101
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,506(93.6% ROI)
Projected value
$94,948
Return breakdown
Property appreciation+$6,779
Loan principal paid down+$2,527
Rental cash flow+$7,200
5-year hold
+$28,093(159.3% ROI)
Projected value
$99,755
Return breakdown
Property appreciation+$11,586
Loan principal paid down+$4,507
Rental cash flow+$12,000
10-year hold
+$59,433(337.0% ROI)
Projected value
$112,864
Return breakdown
Property appreciation+$24,695
Loan principal paid down+$10,738
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.20
1 BR
1.25
2 BR
1.49
3 BR
1.17
4 BR
1.07
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 38305 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38305 (Jackson, TN) is $1,500 a month. That is up 4.9% from $1,430 in FY 2026. Jackson is in the Carroll County, TN non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $995. Among 18 ZIP codes in Carroll County, 38305 has the highest two-bedroom rent (county range $1,000–$1,500). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 38305 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 38305
BedroomsFY 2027Change90–110% range
Studio$1,040+5.1%$936–$1,144
1BR$1,150+5.5%$1,035–$1,265
2BR$1,500+4.9%$1,350–$1,650
3BR$1,890−0.5%$1,701–$2,079
4BR$2,070+3.5%$1,863–$2,277

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 38305
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,150$1,500$1,890$2,070
FY 2026$990$1,090$1,430$1,900$2,000
FY 2025$920$1,020$1,340$1,810$1,810
FY 2024$850$950$1,250$1,710$1,720
FY 2023$700$800$1,050$1,420$1,430

Two-bedroom rent in nearby Carroll County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 38305
38235$1,150−23.3%
38258$1,000−33.3%
38305Current$1,500—
38317$1,000−33.3%
38318$1,050−30.0%
38320$1,020−32.0%
38321$1,000−33.3%
38341$1,000−33.3%
38342$1,000−33.3%
38344$1,210−19.3%
38348$1,140−24.0%
38358$1,000−33.3%

Questions about ZIP 38305 rents

How much will Section 8 pay for a two-bedroom in ZIP 38305?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $995, which applies unless the housing authority uses Small Area FMRs, that basic range is $896 to $1,095 a month; under the ZIP-level Small Area FMR of $1,500 it would be $1,350 to $1,650. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 38305 in?

ZIP 38305 is in the Carroll County, TN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $995.

How much did fair market rent change in ZIP 38305 for FY 2027?

The two-bedroom FMR rose 4.9%, from $1,430 in FY 2026 to $1,500 in FY 2027. Since FY 2023 it has risen 42.9%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentJackson, TN fair market rentTN statewide rentsWhat is SAFMR?Data sources