FMR is below market; voucher rent may lag private rents.
0.56
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 38338 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38338 (Gibson, TN) is $1,080 a month. That is down 10.0% from $1,200 in FY 2026. Gibson is in the Gibson County, TN HUD Metro 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 metro-wide two-bedroom FMR of $995. Among 14 ZIP codes in Gibson County, 38338 has the 4th-highest two-bedroom rent (county range $1,000–$1,400). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 38338 is 3% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 38338
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$830
$750
−9.6%
$675–$825
1BR
$910
$820
−9.9%
$738–$902
2BR
$1,200
$1,080
−10.0%
$972–$1,188
3BR
$1,670
$1,510
−9.6%
$1,359–$1,661
4BR
$2,010
$1,810
−10.0%
$1,629–$1,991
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 38338
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$750
$820
$1,080
$1,510
$1,810
FY 2026
$830
$910
$1,200
$1,670
$2,010
FY 2025
$870
$920
$1,170
$1,640
$1,960
FY 2024
$650
$720
$860
$1,210
$1,460
FY 2023
$560
$610
$750
$1,050
$1,280
Two-bedroom rent in nearby Gibson County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 38338?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-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 $1,080 it would be $972 to $1,188. 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 38338 in?
ZIP 38338 is in the Gibson County, TN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $995.
How much did fair market rent change in ZIP 38338 for FY 2027?
The two-bedroom FMR fell 10.0%, from $1,200 in FY 2026 to $1,080 in FY 2027. Since FY 2023 it has risen 44.0%.
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