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Decatur County/Bath Springs/38311

38311

ZIPSAFMR
Decatur County, TN
Zillow

ZIP Investment Score

96Above average

095130300
BRFMR
Eff. Rent
0 BR$790$790
1 BR$850$850
2 BR$1,030$1,030
3 BR$1,330$1,330
4 BR$1,400$1,400
5 BR$1,610Not available
6 BR$1,851Not available
7 BR$2,129Not available
8 BR$2,449Not available

Purchase Price Calculator

Maximum purchase price
$91,141

Cost breakdown

+Likely effective rent$1,030
HUD FMRUsed$1,030
Market rentN/A
Est. payment standardN/A
-Principal and interest-$461
Loan amount$72,913
Down payment$18,228
Rate6.50%
Term30 years
-Operating costs-$369
Property taxes-$91
Insurance-$175
Utilities$0
HOA$0
Management-$103
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,820(92.3% ROI)
Projected value
$98,149
Return breakdown
Property appreciation+$7,008
Loan principal paid down+$2,612
Rental cash flow+$7,200
5-year hold
+$28,635(157.1% ROI)
Projected value
$103,118
Return breakdown
Property appreciation+$11,977
Loan principal paid down+$4,658
Rental cash flow+$12,000
10-year hold
+$60,627(332.6% ROI)
Projected value
$116,668
Return breakdown
Property appreciation+$25,527
Loan principal paid down+$11,100
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 38311 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38311 (Bath Springs, TN) is $1,030 a month. That is up 9.6% from $940 in FY 2026. Bath Springs is in the Decatur 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 9 ZIP codes in Decatur County, 38311 has the 2nd-highest two-bedroom rent (county range $1,000–$1,140). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 38311 is 2% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 38311
BedroomsFY 2027Change90–110% range
Studio$790+9.7%$711–$869
1BR$850+14.9%$765–$935
2BR$1,030+9.6%$927–$1,133
3BR$1,330+7.3%$1,197–$1,463
4BR$1,400+7.7%$1,260–$1,540

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 38311
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$790$850$1,030$1,330$1,400
FY 2026$720$740$940$1,240$1,300
FY 2025$690$710$910$1,210$1,250
FY 2024area FMR$651$655$861$1,154$1,209
FY 2023area FMR$564$567$747$952$1,051

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Decatur County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 38311
38311Current$1,030—
38328$1,010−1.9%
38329$1,020−1.0%
38341$1,000−2.9%
38363$1,010−1.9%
38371$1,140+10.7%
38374$1,000−2.9%
38380$1,010−1.9%
38388$1,000−2.9%

Questions about ZIP 38311 rents

How much will Section 8 pay for a two-bedroom in ZIP 38311?

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 $1,030 it would be $927 to $1,133. 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 38311 in?

ZIP 38311 is in the Decatur 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 38311 for FY 2027?

The two-bedroom FMR rose 9.6%, from $940 in FY 2026 to $1,030 in FY 2027. Since FY 2025 it has risen 13.2%.

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 rentBath Springs, TN fair market rentTN statewide rentsWhat is SAFMR?Data sources