Tennessee
Carroll County
ZIP 38321
28,461 residents13 permits TTM$50,391 median HHI12 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$122,100
ACS 5-Year
Cap rate proxy
7.4%
FMR × 0.65 ÷ Home Value
Rent-to-income
18.0%
HUD FMR ÷ ACS HHI
Net migration
+1.38%
IRS SOI
Permits (TTM)
13
Census BPS
Climate risk
72.8
FEMA NRI (0–100)
ZIP 38321
Median home value
$190,591
Gross yield
5.8%
Cap rate
4.8%
Rent gap
18.2%
Affordability
P/I: 3.8R/I: —
Section 8 detail
SAFMR: $925Rent: $757Gap: 22.2%
ZIP code breakdown12 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 38201 | $184,056 | $925 | 6.0% | 4.9% | 18.2% |
| 38220 | $146,030 | $925 | 7.6% | 6.2% | 18.2% |
| 38235 | $122,100county est. | $925 | 9.1% | 7.4% | 18.2% |
| 38258 | $121,066 | $925 | 9.2% | 7.5% | 18.2% |
| 38317 | $142,254 | $925 | 7.8% | 6.4% | 18.2% |
Ranked by composite score
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Demographics
Owner-occupied
74.8%
Census ACS
Vacancy rate
14.1%
Census ACS
Bachelor's degree +
18.9%
Census ACS
Rent burdened
34.8%
Census ACS (>30% income)
Median age
41.6
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026