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Giles County/Leoma/38468

38468

ZIPSAFMR
Giles County, TN
Zillow

ZIP Investment Score

72Below average

095130300
BRFMR
Eff. Rent
0 BR$1,040$1,040
1 BR$1,050$1,050
2 BR$1,370$1,370
3 BR$1,630$1,630
4 BR$1,830$1,830
5 BR$2,105Not available
6 BR$2,420Not available
7 BR$2,783Not available
8 BR$3,201Not available

Purchase Price Calculator

Maximum purchase price
$141,665

Cost breakdown

+Likely effective rent$1,370
HUD FMRUsed$1,370
Market rentN/A
Est. payment standardN/A
-Principal and interest-$716
Loan amount$113,332
Down payment$28,333
Rate6.50%
Term30 years
-Operating costs-$454
Property taxes-$142
Insurance-$175
Utilities$0
HOA$0
Management-$137
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,153(78.2% ROI)
Projected value
$152,558
Return breakdown
Property appreciation+$10,893
Loan principal paid down+$4,060
Rental cash flow+$7,200
5-year hold
+$37,857(133.6% ROI)
Projected value
$160,281
Return breakdown
Property appreciation+$18,616
Loan principal paid down+$7,241
Rental cash flow+$12,000
10-year hold
+$80,932(285.6% ROI)
Projected value
$181,343
Return breakdown
Property appreciation+$39,678
Loan principal paid down+$17,254
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
--
Tax rate
--
Mortgage rate
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ZIP 38468 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38468 (Leoma, TN) is $1,370 a month. That is up 18.1% from $1,160 in FY 2026. Leoma is in the Giles 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 $1,105. Among 17 ZIP codes in Giles County, 38468 has the highest two-bedroom rent (county range $1,000–$1,370). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 38468 is 31% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 38468
BedroomsFY 2027Change90–110% range
Studio$1,040+18.2%$936–$1,144
1BR$1,050+19.3%$945–$1,155
2BR$1,370+18.1%$1,233–$1,507
3BR$1,630+17.3%$1,467–$1,793
4BR$1,830+18.8%$1,647–$2,013

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 38468
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,050$1,370$1,630$1,830
FY 2026$880$880$1,160$1,390$1,540
FY 2025$780$790$1,030$1,240$1,370
FY 2024area FMR$739$759$900$1,106$1,480
FY 2023area FMR$631$684$773$968$1,248

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

Two-bedroom rent in nearby Giles County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 38468
38453$1,150−16.1%
38455$1,220−10.9%
38456$1,020−25.5%
38459$1,120−18.2%
38460$1,000−27.0%
38464$1,010−26.3%
38468Current$1,370—
38472$1,220−10.9%
38473$1,340−2.2%
38474$1,220−10.9%
38477$1,130−17.5%
38478$1,110−19.0%

Questions about ZIP 38468 rents

How much will Section 8 pay for a two-bedroom in ZIP 38468?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,105, which applies unless the housing authority uses Small Area FMRs, that basic range is $995 to $1,216 a month; under the ZIP-level Small Area FMR of $1,370 it would be $1,233 to $1,507. 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 38468 in?

ZIP 38468 is in the Giles County, TN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,105.

How much did fair market rent change in ZIP 38468 for FY 2027?

The two-bedroom FMR rose 18.1%, from $1,160 in FY 2026 to $1,370 in FY 2027. Since FY 2025 it has risen 33.0%.

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

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