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
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Mortgage rate
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ZIP 38378 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 38378 (Spring Creek, TN) is $1,375 a month. That is up 9.1% from $1,260 in FY 2026. Spring Creek is in the Jackson, TN HUD Metro FMR Area. The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 38378 is 31% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 38378
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$869
$957
+10.1%
$861–$1,053
1BR
$960
$1,051
+9.5%
$946–$1,156
2BR
$1,260
$1,375
+9.1%
$1,238–$1,513
3BR
$1,677
$1,730
+3.2%
$1,557–$1,903
4BR
$1,758
$1,898
+8.0%
$1,708–$2,088
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 38378
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$957
$1,051
$1,375
$1,730
$1,898
FY 2026
$869
$960
$1,260
$1,677
$1,758
FY 2025
$848
$942
$1,236
$1,667
$1,674
FY 2024
$771
$866
$1,138
$1,558
$1,563
FY 2023
$627
$712
$937
$1,269
$1,274
Questions about ZIP 38378 rents
How much will Section 8 pay for a two-bedroom in ZIP 38378?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,375, that basic range is $1,238 to $1,513 a month. 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 38378 in?
ZIP 38378 is in the Jackson, TN HUD Metro FMR Area. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 38378 for FY 2027?
The two-bedroom FMR rose 9.1%, from $1,260 in FY 2026 to $1,375 in FY 2027. Since FY 2023 it has risen 46.7%.
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 Fair Market Rents. 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