Location: Chattanooga, TN | Metro: Chattanooga, TN-GA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $204,482 | 0.52% | F |
| 3BR | $1,320 | $277,211 | 0.48% | F |
| 4BR | $1,410 | $393,742 | 0.36% | F |
U.S. Census Bureau data (2024)
The ZIP code 30707, encompassing Chickamauga, GA, presents a dynamic housing market that is currently experiencing a delicate balance between supply and demand. The Fair Market Rent (FMR) for the area stands at $1080 for fiscal year 2024, while the market rent, as reported by the Census American Community Survey (ACS), is lower at $915. This suggests that the rental market is slightly below the federal benchmark, indicating a potential surplus of rental units or a conservative approach to pricing by local landlords.
A further indication of the market's state comes from the 0.2% price-cut share, which is exceptionally low. This figure implies that very few properties are being discounted to attract buyers, suggesting that demand remains steady and possibly outstrips supply for certain segments of the housing market. However, the lack of data on days on market (DOM) makes it challenging to definitively conclude whether the overall market leans towards an oversupply or undersupply of homes.
The median home value in ZIP 30707 is $265,132. This figure places the average homeowner's investment within a moderate range, potentially making it attractive to both first-time buyers and investors looking for affordable opportunities. The relatively low median home value could also indicate a mix of older homes and newer developments catering to different buyer segments.
The 14.0% renter share in Chickamauga highlights a significant trend in the area's housing landscape. With fewer individuals choosing to rent, there is a higher concentration of homeownership, which can reduce immediate pressure on the rental market but also signals a potential long-term shift towards a more owner-occupied community. This low renter share could suggest that the area attracts people who are more likely to buy rather than rent, which might lead to sustained demand for homeownership over time.
In summary, ZIP 30707 is a market characterized by a slight oversupply in rentals, with steady demand for homeownership. The low price-cut share and moderate median home value indicate a resilient segment of the market, particularly for those seeking to purchase rather than rent. The low renter share points to a community that favors homeownership, which could translate into consistent demand for residential properties as the area continues to develop.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.