Location: Nashville-Davidson--Murfreesboro--Franklin, TN | Metro: Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,860 |
| 5 Bedrooms | $3,318 |
| 6 Bedrooms | $3,716 |
| 7 Bedrooms | $4,013 |
| 8 Bedrooms | $4,214 |
1650 is the Fair Market Rent (FMR) for ZIP code 37011 in Tennessee for fiscal year 2024. This figure represents the upper limit on monthly rents for a two-bedroom unit under the Section 8 program. Given the absence of specific market rent data, it's critical to understand that the FMR serves as a benchmark for rental assistance payments in the area. The lack of detailed local market rent figures makes it challenging to directly compare the FMR to actual market conditions, but it suggests that landlords participating in the program can expect to receive a fixed payment of up to $1650 per month for such units. With no median home value available, it's also important to note that the housing stock in ZIP 37011 might be diverse, including both rentals and owner-occupied properties. The unknown percentage of renters in the area indicates that there is no precise data on how many residents are likely to rely on rental assistance programs. Similarly, the unavailability of median income data means we cannot assess the financial health of potential tenants. The day DOM (Days On Market) and price-cut share percentages being unavailable highlight a gap in understanding the dynamics of the real estate market in this region, which could affect vacancy rates and rental pricing strategies. For landlords and small-portfolio investors, the $1650 FMR provides a stable income stream but limits the potential for higher rents based on market demand. In conclusion, while the participation in Section 8 offers financial security, the lack of comprehensive local market data complicates the assessment of broader investment opportunities in ZIP 37011.
Section 8 Verdict: Participation in Section 8 offers predictable income but may cap rental revenue at $1650 for two-bedroom units.
Data Sources: FMR data from HUD (2027).
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.