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 neighborhood in ZIP 37068, located in an unknown part of Tennessee, lacks specific demographic data such as population, percentage of renters, and median income. This absence suggests limited public records or a smaller, less documented community.
Despite the lack of precise figures, the rental economics offer valuable insights. The Fair Market Rent (FMR) for ZIP 37068 in fiscal year 2024 is set at $2210. This figure is crucial for hands-off voucher operators who rely on government subsidies to cover tenant payments. It ensures a consistent revenue stream without the need for active management.
The practical question for investors is whether this area suits a hands-off voucher operator or requires a more hands-on approach. Given the FMR of $2210, a hands-off strategy can be effective if the landlord aims to minimize operational involvement. On the other hand, a hands-on value-add buyer might find opportunities to improve property values and potentially increase rents beyond the FMR, though specific market rent data is unavailable.
To make an informed decision, potential investors should conduct further research into the local real estate market, including property values, vacancy rates, and tenant demand for Section 8 vouchers. This will help determine if the area is best suited for passive income generation or active property management.
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.