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 | $2,040 |
| 1 Bedroom | $2,120 |
| 2 Bedrooms | $2,320 |
| 3 Bedrooms | $2,970 |
| 4 Bedrooms | $3,600 |
| 5 Bedrooms | $4,176 |
| 6 Bedrooms | $4,677 |
| 7 Bedrooms | $5,051 |
| 8 Bedrooms | $5,304 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 4BR | $3,600 | $1,260,683 | 0.29% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 37014, part of the Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area, is favorable for Section 8 landlords. The Fair Market Rent (FMR) set at $2100 for fiscal year 2024 provides a solid baseline for rental income, although the lack of specific market rent data makes it challenging to compare directly. However, given the high FMR, it suggests that rental properties can be priced competitively within the local market.
Acquisition in this area is moderately affordable. With a median home value of $1,263,260, potential investors must consider the capital required for entry. The absence of day-on-market (DOM) data and the low 0.2% price-cut share indicate a stable market where homes do not typically sit unsold for long periods or require significant price reductions. This stability supports the idea that acquiring properties here would be a prudent investment.
Tenant demand in ZIP 37014 is robust despite the relatively small population size of 3,227. The 1.6% renter share may seem low, but when combined with the high FMR, it points to a strong interest among renters who qualify for Section 8 assistance. Given the limited number of available rental units, those that meet the criteria for Section 8 participation are likely to attract tenants quickly.
In summary, ZIP 37014 presents a viable opportunity for Section 8 landlords and small-portfolio investors. The $2100 FMR ensures competitive rental income, while the median home value and stable market conditions suggest that property acquisitions are feasible. Although the population is small, the high FMR and the presence of qualified renters make this area attractive for those looking to enter the Section 8 housing market. Landlords can expect steady occupancy rates and financial returns in line with the established FMR standards.
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.