Location: Nashville-Davidson--Murfreesboro--Franklin, TN | Metro: Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,030 |
| 1 Bedroom | $2,110 |
| 2 Bedrooms | $2,300 |
| 3 Bedrooms | $2,950 |
| 4 Bedrooms | $3,580 |
| 5 Bedrooms | $4,153 |
| 6 Bedrooms | $4,651 |
| 7 Bedrooms | $5,023 |
| 8 Bedrooms | $5,274 |
The ZIP code 37065, located within the Nashville-Davidson--Murfreesboro--Franklin metropolitan area, presents unique characteristics that set it apart from other regions. Due to the absence of specific data on residents, rental percentages, median income, and median home values, we must rely on broader context and available economic indicators to analyze its potential for landlords and small-portfolio investors.
The most significant piece of information available pertains to the Fair Market Rent (FMR) for ZIP 37065, which is set at $2210 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 voucher holder. While the exact market rent for the area is not specified, the FMR provides a benchmark for assessing the economic viability of renting properties under the Section 8 program.
Given the lack of detailed demographic data, it's essential to consider the broader economic environment of the Nashville-Davidson--Murfreesboro--Franklin area. The city has seen steady growth in recent years, attracting new residents and businesses. This trend suggests that demand for affordable housing, supported by Section 8 vouchers, is likely to remain strong. However, without precise market rent data, it's challenging to compare the FMR against local market conditions comprehensively.
The voucher economics in ZIP 37065 are straightforward. Landlords who participate in the Section 8 program can expect to receive a fixed amount of $2210 per month for eligible units. This can be advantageous if the market rent is higher, as it ensures a consistent income stream. Conversely, if the market rent is lower, participation might not be as financially attractive. The key for landlords is to understand the local rental market and how the FMR compares to it.
Based on the limited data provided, the economic profile of ZIP 37065 appears transitional. The absence of detailed statistics indicates a need for further investigation into the local rental market dynamics. For investors and landlords, this means keeping an eye on trends and being prepared to adapt to changes in the housing market and the availability of Section 8 vouchers.
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.