Location: Nashville-Davidson--Murfreesboro--Franklin, TN | Metro: Clarksville, TN-KY 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 | $1,350 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,980 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,540 | $258,125 | 0.6% | F |
| 3BR | $1,980 | $364,302 | 0.54% | F |
| 4BR | $2,400 | $425,246 | 0.56% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 37015, which includes Ashland City, Tennessee, stands at $79,092. Given this figure, let's examine the affordability of housing for renters. The market rate for rental properties, known as the Zillow Observed Rent Index (ZORI), is set at $1,634. This amount represents the typical monthly rent one might expect to pay for a property in this area.
In contrast, the Fair Market Rent (FMR) for the fiscal year 2024, which is the standard used for determining voucher payments, is $1,350. This means that a household receiving a Section 8 voucher would be able to afford a rental unit at the $1,350 rate, but they would fall short of covering the $1,634 market rate without additional income sources.
The population of Ashland City is 18,988, with 22.6% of residents being renters. This indicates that there is a significant portion of the community relying on rental housing, which could lead to increased competition among landlords to attract tenants. However, the disparity between the market rate and the voucher payment creates an affordability gap for both renters and landlords.
For landlords considering their strategy for accepting tenants, the key takeaway is that while cash-paying tenants may offer higher rents closer to the $1,634 market rate, the availability of Section 8 vouchers at $1,350 per month means that landlords who accept these vouchers will have a steady stream of reliable tenants. Landlords must weigh the benefits of higher rent against the stability and predictability offered by voucher-supported tenants.
In conclusion, the decision to accept Section 8 vouchers versus cash-paying tenants should be based on a careful consideration of the local rental market dynamics and the financial stability preferred by the landlord. The affordability gap in Ashland City suggests that landlords who are willing to work with Section 8 vouchers may find a competitive edge in securing long-term tenancy.
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.