FY2027 Small Area FMR · Elmwood, TN

ZIP 38560 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 38560 (Elmwood, TN) is $1,000 a month, up 1.0% from FY2026. That is 13% below the Smith County, TN area-wide FMR of $1,146.

2-bedroom SAFMR$1,000per month ▲ 1.0%

Area-wide 2 BR FMR$1,146Smith County, TN

Rank in the area14thof 15 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$900

2 BR Small Area FMR$1,000

110% of SAFMR$1,100

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$760▲ 1.3%

1 BR$760▲ 1.3%

2 BR$1,000▲ 1.0%

3 BR$1,240▼ 3.9%

4 BR$1,310■ 0.0%

FY2027 FY2026

Where 38560 sits in the Smith County, TN area

Of the 15 ZIP codes HUD lists for the area, 38560 has the 14th highest two-bedroom Small Area FMR. Smith County, TN is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,146 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,000 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$760	$684 – $836	$870	$750
1 bedroom	$760	$684 – $836	$876	$750
2 bedrooms	$1,000	$900 – $1,100	$1,146	$990
3 bedrooms	$1,240	$1,116 – $1,364	$1,407	$1,290
4 bedrooms	$1,310	$1,179 – $1,441	$1,506	$1,310

A household renting a two-bedroom home at the Small Area FMR of $1,000 needs about $40,000 a year to keep housing costs at 30% of income. The area median family income is $85,900 and the 80% low-income limit for four people is $68,700. ZIP code 38560 lies mainly in Smith County. See the Smith County, TN county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
38552	Chestnut Mound	2.4 mi	$1,150
38548	Buffalo Valley	5.4 mi	$1,030
37030	Carthage	5.9 mi	$1,190
38567	Hickman	7.3 mi	$1,020
38564	Granville	7.6 mi	$1,010
38569	Lancaster	9.0 mi	$1,020

Questions

What is the Fair Market Rent for ZIP code 38560?

HUD's FY2027 Small Area Fair Market Rents for 38560 are $760 (studio), $760 (1 BR), $1,000 (2 BR), $1,240 (3 BR) and $1,310 (4 BR) a month.

What is the Section 8 payment standard in 38560?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 38560 that range is $900 to $1,100 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 38560?

The FY2026 income limits of the Smith County, TN area apply: median family income $85,900, low-income (80%) limit $68,700 for a family of four.