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 | $1,390 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,030 | $484,242 | 0.42% | F |
| 4BR | $2,460 | $644,911 | 0.38% | F |
U.S. Census Bureau data (2024)
1500 dollars is the Fair Market Rent (FMR) for ZIP code 37082 as of fiscal year 2024, indicating the maximum amount a landlord can charge for a Section 8 voucher holder. However, the market rent, according to the Census American Community Survey, stands at 1424 dollars, suggesting a slightly lower average rent compared to the FMR. The median home value in this area is 477206 dollars, reflecting a substantial investment for homeownership. Renter share of the population is 20.7 percent, which is relatively low, implying a smaller pool of potential tenants seeking rental properties. Median income for residents in ZIP 37082 is 98361 dollars, providing insight into the economic conditions of the area. Price-cut share is 0.1 percent, indicating that very few listings in this area have their prices reduced, which suggests a stable market where properties sell at or near their asking price.
The disparity between the Fair Market Rent and the actual market rent presents an opportunity for landlords who can offer competitive rents while still being reimbursed at the higher FMR rate through Section 8 vouchers. This could be particularly beneficial given the median income level, which might limit the ability of some residents to afford higher rents without assistance. The low price-cut share also points to a strong local real estate market, where landlords can maintain their rental rates without significant adjustments.
With these factors considered, landlords and small-portfolio investors should find ZIP code 37082 a favorable environment for Section 8 participation, leveraging the gap between FMR and market rent to maximize returns while serving a community in need.
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.