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Marshall County/Culleoka/38451

38451

ZIPSAFMR
Marshall County, TN
Zillow

ZIP Investment Score

50Below average

095130300
BRFMR
Eff. Rent
0 BR$1,150$1,150
1 BR$1,170$1,170
2 BR$1,320$1,320
3 BR$1,680$1,680
4 BR$2,010$2,010
5 BR$2,312Not available
6 BR$2,658Not available
7 BR$3,057Not available
8 BR$3,516Not available

Purchase Price Calculator

Maximum purchase price
$134,235

Cost breakdown

+Likely effective rent$1,320
HUD FMRUsed$1,320
Market rentN/A
Est. payment standardN/A
-Principal and interest-$679
Loan amount$107,388
Down payment$26,847
Rate6.50%
Term30 years
-Operating costs-$441
Property taxes-$134
Insurance-$175
Utilities$0
HOA$0
Management-$132
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,369(79.6% ROI)
Projected value
$144,556
Return breakdown
Property appreciation+$10,321
Loan principal paid down+$3,847
Rental cash flow+$7,200
5-year hold
+$36,501(136.0% ROI)
Projected value
$151,875
Return breakdown
Property appreciation+$17,640
Loan principal paid down+$6,861
Rental cash flow+$12,000
10-year hold
+$77,946(290.3% ROI)
Projected value
$171,832
Return breakdown
Property appreciation+$37,597
Loan principal paid down+$16,349
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 38451 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38451 (Culleoka, TN) is $1,320 a month. That is down 0.8% from $1,330 in FY 2026. Culleoka is in the Marshall 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 $1,106. Among 12 ZIP codes in Marshall County, 38451 has the 6th-highest two-bedroom rent (county range $1,080–$2,120). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 38451 is 26% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 38451
BedroomsFY 2027Change90–110% range
Studio$1,150+10.6%$1,035–$1,265
1BR$1,170+12.5%$1,053–$1,287
2BR$1,320−0.8%$1,188–$1,452
3BR$1,680−0.6%$1,512–$1,848
4BR$2,010+13.6%$1,809–$2,211

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 38451
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,150$1,170$1,320$1,680$2,010
FY 2026$1,040$1,040$1,330$1,690$1,770
FY 2025$930$930$1,210$1,560$1,610
FY 2024$830$840$1,100$1,420$1,470
FY 2023$690$700$920$1,230$1,300

Two-bedroom rent in nearby Marshall County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 38451
37019$1,110−15.9%
37034$1,500+13.6%
37046$1,930+46.2%
37047$1,080−18.2%
37060$1,640+24.2%
37091$1,220−7.6%
37144$1,180−10.6%
37174$2,120+60.6%
37180$1,190−9.8%
38401$1,360+3.0%
38451Current$1,320—
38472$1,220−7.6%

Questions about ZIP 38451 rents

How much will Section 8 pay for a two-bedroom in ZIP 38451?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,106, which applies unless the housing authority uses Small Area FMRs, that basic range is $995 to $1,217 a month; under the ZIP-level Small Area FMR of $1,320 it would be $1,188 to $1,452. 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 38451 in?

ZIP 38451 is in the Marshall County, TN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,106.

How much did fair market rent change in ZIP 38451 for FY 2027?

The two-bedroom FMR fell 0.8%, from $1,330 in FY 2026 to $1,320 in FY 2027. Since FY 2023 it has risen 43.5%.

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