Tennessee · FIPS 47113 · HUD FY 2027
Madison County, Tennessee Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Madison County is $1,375 a month (rent plus utilities), about the same as the Tennessee average of $1,381 and 22% below the U.S. average of $1,761. That is up $115 (9.1%) from FY 2026. At 30% of income, a household needs about $55,000 a year to afford it.
- $1,3752-bedroom FMR+$115 (+9.1%) vs FY 2026
- $1,0511-bedroom FMRTennessee: $1,196 · U.S.: $1,478
- $55,000Income for a 2-bedroom$26/hour full-time
- 17 of 952BR rank in Tennessee1 = highest rent
| Unit | Madison County FY 2027 | FY 2026 | Change | Tennessee avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $957 | $869 | +$88 (+10.1%) | $1,141 | $1,379 | $38,280 |
| 1 bedroom | $1,051 | $960 | +$91 (+9.5%) | $1,196 | $1,478 | $42,040 |
| 2 bedrooms | $1,375 | $1,260 | +$115 (+9.1%) | $1,381 | $1,761 | $55,000 |
| 3 bedrooms | $1,730 | $1,677 | +$53 (+3.2%) | $1,771 | $2,266 | $69,200 |
| 4 bedrooms | $1,898 | $1,758 | +$140 (+8.0%) | $2,054 | $2,607 | $75,920 |
How Madison County compares
- HUD sets this rent for the Jackson, TN metro FMR area, which covers 116,906 residents in 2 counties.
- Across Tennessee, 2-bedroom FMRs run from $995 (Weakley County) to $1,798 (Cannon County).
- Studio to 4-bedroom: $957, $1,051, $1,375, $1,730, $1,898. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 9 ZIP codes mostly in Madison County (by land area), the 2-bedroom figure ranges from $1,140 to $1,500.
Small Area FMRs by ZIP code in Madison County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 38301 | $910 | $1,000 | $1,310 | $1,650 | $1,810 | +$80 (+6.5%) | 5% below |
| 38305 | $1,040 | $1,150 | $1,500 | $1,890 | $2,070 | +$70 (+4.9%) | 9% above |
| 38313 | $870 | $990 | $1,200 | $1,510 | $1,660 | +$70 (+6.2%) | 13% below |
| 38355 | $980 | $1,070 | $1,400 | $1,920 | $2,180 | +$170 (+13.8%) | 2% above |
| 38356 | $840 | $910 | $1,170 | $1,510 | $1,620 | +$50 (+4.5%) | 15% below |
| 38362 | $1,010 | $1,110 | $1,450 | $1,840 | $2,000 | −$80 (−5.2%) | 5% above |
| 38366 | $800 | $870 | $1,140 | $1,510 | $1,590 | +$20 (+1.8%) | 17% below |
| 38391 | $1,030 | $1,130 | $1,480 | $1,860 | $2,040 | +$170 (+13.0%) | 8% above |
| 38392 | $860 | $910 | $1,170 | $1,540 | $1,650 | +$110 (+10.4%) | 15% below |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.