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White County/Walling/38587

38587

ZIPSAFMR
White County, TN
Zillow

ZIP Investment Score

66Below average

095130300
BRFMR
Eff. Rent
0 BR$760$760
1 BR$760$760
2 BR$1,000$1,000
3 BR$1,290$1,290
4 BR$1,660$1,660
5 BR$1,909Not available
6 BR$2,195Not available
7 BR$2,525Not available
8 BR$2,903Not available

Purchase Price Calculator

Maximum purchase price
$86,683

Cost breakdown

+Likely effective rent$1,000
HUD FMRUsed$1,000
Market rentN/A
Est. payment standardN/A
-Principal and interest-$438
Loan amount$69,346
Down payment$17,337
Rate6.50%
Term30 years
-Operating costs-$362
Property taxes-$87
Insurance-$175
Utilities$0
HOA$0
Management-$100
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,350(94.3% ROI)
Projected value
$93,348
Return breakdown
Property appreciation+$6,665
Loan principal paid down+$2,485
Rental cash flow+$7,200
5-year hold
+$27,821(160.5% ROI)
Projected value
$98,074
Return breakdown
Property appreciation+$11,391
Loan principal paid down+$4,431
Rental cash flow+$12,000
10-year hold
+$58,836(339.4% ROI)
Projected value
$110,962
Return breakdown
Property appreciation+$24,279
Loan principal paid down+$10,557
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 38587 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 38587 (Walling, TN) is $1,000 a month. That is up 7.5% from $930 in FY 2026. Walling is in the White 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 $1,021. Among 6 ZIP codes in White County, 38587 has the 6th-highest two-bedroom rent (county range $1,000–$1,250). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 38587 is 5% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 38587
BedroomsFY 2027Change90–110% range
Studio$760+8.6%$684–$836
1BR$760+8.6%$684–$836
2BR$1,000+7.5%$900–$1,100
3BR$1,290+11.2%$1,161–$1,419
4BR$1,660+12.9%$1,494–$1,826

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 38587
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$760$760$1,000$1,290$1,660
FY 2026$700$700$930$1,160$1,470
FY 2025$750$750$990$1,190$1,410
FY 2024area FMR$730$734$965$1,167$1,285
FY 2023area FMR$623$627$825$1,004$1,108

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

Two-bedroom rent in nearby White County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 38587
38506$1,250+25.0%
38559$1,110+11.0%
38579$1,090+9.0%
38581$1,140+14.0%
38583$1,040+4.0%
38587Current$1,000—

Questions about ZIP 38587 rents

How much will Section 8 pay for a two-bedroom in ZIP 38587?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,021, which applies unless the housing authority uses Small Area FMRs, that basic range is $919 to $1,123 a month; under the ZIP-level Small Area FMR of $1,000 it would be $900 to $1,100. 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 38587 in?

ZIP 38587 is in the White County, TN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,021.

How much did fair market rent change in ZIP 38587 for FY 2027?

The two-bedroom FMR rose 7.5%, from $930 in FY 2026 to $1,000 in FY 2027. Since FY 2025 it has risen 1.0%.

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