Madison County, TN: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,3752-bedroom FMR, FY2027

$1,0511-bedroom FMR, FY2027

$63,60080% income limit, family of 4 (FY2026)

$79,500Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Madison County is $1,375 a month, up 9.1% from $1,260 in FY2026. Madison County belongs to the Jackson, TN HUD Metro FMR Area FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Madison County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$957	$869	+10.1%	$862 – $1,052
1 bedroom	$1,051	$960	+9.5%	$946 – $1,156
2 bedrooms	$1,375	$1,260	+9.1%	$1,238 – $1,512
3 bedrooms	$1,730	$1,677	+3.2%	$1,557 – $1,903
4 bedrooms	$1,898	$1,758	+8.0%	$1,709 – $2,087

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Madison County that is typically $1,238 to $1,512 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$38,911median income of renter households

$1,123Median gross rent, all units

35%Rent-to-income ratio (median rent ÷ median renter income)

54%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $38,911 can afford about $973 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,375 is $402 (41.3%) more than that. To rent a two-bedroom at the FMR, a household needs $55,000 a year under the 30% rule, or $49,500 under the common landlord rule that income must be three times the rent.

Madison County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,123 ±$26
Median income of renter households	$38,911 ±$3,594
Renters paying 30% or more of income (cost-burdened)	54.2% ±4.2
Renters paying 50% or more (severely cost-burdened)	28.6% ±3.0
Renter households (where the share can be computed)	13,827

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$877	$1,123	+28.1%
Median renter household income	$30,020	$38,911	+29.6%
Renters paying 30%+ of income	51.8%	54.2%	+2.4 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,140 to $1,500 depending on the ZIP code.

All 27 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
38006	$820	$890	$1,150	$1,530	$1,690
38044	$790	$870	$1,140	$1,510	$1,590
38301	$910	$1,000	$1,310	$1,650	$1,810
38302	$980	$1,080	$1,410	$1,770	$1,950
38303	$980	$1,080	$1,410	$1,770	$1,950
38305	$1,040	$1,150	$1,500	$1,890	$2,070
38308	$980	$1,080	$1,410	$1,770	$1,950
38313	$870	$990	$1,200	$1,510	$1,660
38315	$790	$870	$1,140	$1,510	$1,590
38332	$790	$870	$1,140	$1,510	$1,590
38334	$790	$870	$1,140	$1,510	$1,590
38340	$790	$870	$1,140	$1,510	$1,590
38343	$790	$870	$1,140	$1,510	$1,590
38345	$860	$1,030	$1,140	$1,510	$1,590
38347	$790	$870	$1,140	$1,510	$1,590
38348	$800	$870	$1,140	$1,510	$1,660
38351	$790	$910	$1,140	$1,510	$1,590
38352	$800	$920	$1,140	$1,510	$1,590
38355	$980	$1,070	$1,400	$1,920	$2,180
38356	$840	$910	$1,170	$1,510	$1,620
38359	$790	$870	$1,140	$1,510	$1,590
38362	$1,010	$1,110	$1,450	$1,840	$2,000
38366	$800	$870	$1,140	$1,510	$1,590
38368	$790	$870	$1,140	$1,510	$1,590
38371	$790	$900	$1,140	$1,510	$1,590
38391	$1,030	$1,130	$1,480	$1,860	$2,040
38392	$860	$910	$1,170	$1,540	$1,650

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Madison County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $79,500 (FY2025: $87,700, −9.4%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$16,700 −3.5%	$21,640 +2.3%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$49,300 +1.3%	$52,500 −3.0%
Very low income (50%)	$27,850 −3.3%	$31,800 −3.2%	$35,800 −3.2%	$39,750 −3.3%	$42,950 −3.3%	$46,150 −3.2%	$49,300 −3.3%	$52,500 −3.2%
Low income (80%)	$44,550 −3.3%	$50,900 −3.2%	$57,250 −3.3%	$63,600 −3.3%	$68,700 −3.3%	$73,800 −3.3%	$78,900 −3.2%	$84,000 −3.2%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.