Location: Nashville-Davidson--Murfreesboro--Franklin, TN | Metro: Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area
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 | $1,690 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $1,920 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,920 | $251,845 | 0.76% | D |
| 3BR | $2,470 | $351,582 | 0.7% | D |
| 4BR | $2,990 | $430,919 | 0.69% | D |
| 5BR | $3,468 | $474,949 | 0.73% | D |
U.S. Census Bureau data (2024)
Nashville’s 37013, largely covering Antioch, has transformed into a diverse, high-density suburban hub characterized by a mix of established single-family neighborhoods and newer apartment complexes. While the area experienced a surge in retail development along Bell Road, it remains defined by its accessibility to the greater Nashville job market. A major stabilizing force for the local tenant pool is the presence of Amazon’s fulfillment operations in the broader South Nashville area, which provides consistent employment opportunities for residents with varying skill levels.
Investors must carefully weigh the HUD Fair Market Rent against current market realities to gauge viability. The FY2026 2BR FMR is set at $1,870, yet the prevailing market rent (Zillow ZORI) sits significantly lower at $1,561, creating a notable gap of $309. With median home values at $359,507 and properties lingering on the market for a median of 91 days, the area suggests a cooler, price-sensitive environment compared to Nashville’s urban core.
Demographics indicate a robust renter population, with 45.9% of households renting and a median household income of $72,755. This income level suggests many families may fall just above or below the threshold for Housing Choice Voucher assistance, maintaining steady demand. The availability of quality-rated schools within the Davidson County district and proximity to major Nashville employers via I-24 enhance the neighborhood's appeal for voucher holders seeking transit connectivity and family amenities.
The strongest investor angle here is cash flow stability via the Section 8 program. Because the $1,870 2BR voucher payment exceeds the $1,561 market rent by a clear margin, accepting vouchers effectively guarantees a premium over standard market rates. In a neighborhood where inventory moves slowly (91 days DOM), locking in government-backed payments above market value offers a significant hedge against vacancy and rental concessions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.