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 | $1,460 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,660 | $293,170 | 0.57% | F |
| 3BR | $2,130 | $385,123 | 0.55% | F |
| 4BR | $2,580 | $554,226 | 0.47% | F |
| 5BR | $2,993 | $672,340 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 37072, located in Goodlettsville, TN, has a population of 32,208 residents, with 33.6% being renters. This indicates that it is a moderately renter-heavy area, though not dominated by rental properties. The median household income in this ZIP is $78,123, which provides a baseline for understanding the financial capacity of potential tenants.
The market rent for the area stands at $1,835, representing approximately 23.5% of the median household income. This figure is calculated by dividing the market rent by the median income ($1,835 / $78,123 = 0.0235). For comparison, the Fair Market Rent (FMR) for FY 2024 in this ZIP is $1,550, indicating that market rents exceed the FMR by about $285. This suggests that landlords can expect a moderate level of voucher demand, but not necessarily a high volume of Section 8 tenants due to the relatively higher market rent.
A landlord in Goodlettsville should anticipate a tenant pool that is likely to include:
In summary, while there is a significant portion of renters in Goodlettsville, the higher market rent compared to the FMR suggests that landlords will not primarily encounter a tenant base heavily reliant on Section 8 vouchers. Instead, they should prepare for a diverse group of tenants, including those who might use vouchers to supplement their rental payments.
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.