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 | $1,070 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,550 | $442,402 | 0.35% | F |
| 4BR | $1,880 | $573,492 | 0.33% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 37029 is poised for stability and potential growth over the next 12-24 months, based on several key indicators. The median home value stands at $440,502, which reflects a balanced market where neither buyers nor sellers hold overwhelming leverage. This figure suggests that property values are neither undervalued nor inflated to unsustainable levels, creating an environment conducive to steady appreciation.
A notable statistic is the low percentage of listings that have been reduced—just 0.3%. This indicates that sellers are generally able to achieve their asking prices, implying strong pricing power. In a healthy market, this level of price resistance signals confidence among homeowners and a robust demand for properties. The median days on market (DOM) being listed as N/A suggests that homes are selling quickly, often before reaching a typical DOM threshold, further reinforcing the notion of strong buyer interest.
From an investment perspective, the disparity between the Fair Market Rent (FMR) of $1,270 for ZIP 37029 in fiscal year 2024 and the current market rent of $1,031 (as per Census ACS data) presents a compelling opportunity for long-term rental investors. The higher FMR projection implies that rents are likely to increase, providing a buffer against inflation and enhancing the potential for positive cash flow and asset appreciation.
The setup implied by these data points suggests a market where property values are expected to remain stable, with gradual appreciation driven by increasing rents and sustained demand. For landlords and small-portfolio investors, this means that holding onto properties could yield favorable returns, particularly if they align their rental rates with the projected FMR. The combination of stable home values, quick sales, and rising rents supports a strategy focused on long-term investment and rental income growth.
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.