Location: Nashville-Davidson--Murfreesboro--Franklin, TN | Metro: Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,380 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $2,000 |
| 4 Bedrooms | $2,430 |
| 5 Bedrooms | $2,819 |
| 6 Bedrooms | $3,157 |
| 7 Bedrooms | $3,410 |
| 8 Bedrooms | $3,581 |
U.S. Census Bureau data (2024)
The ZIP code 37132 falls within the Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1360. However, the market rent and home value data are not available for this specific ZIP code. The lack of these figures makes it challenging to provide a direct comparison to the broader metro area's typical ZIP codes.
Based on the FMR alone, we can infer that 37132 is likely a value pocket within its larger metropolitan context. The FMR is generally lower than what would be expected in a premium sub-market, suggesting that rental properties here might be more affordable for low-income households who rely on housing assistance programs such as Section 8. This affordability could make it attractive for landlords seeking to serve families eligible for federal housing subsidies.
The absence of data on market rent and home values prevents us from making a comprehensive assessment of how 37132 stacks up against other ZIP codes in terms of overall property value and market dynamics. Typically, a higher percentage of renters combined with lower-than-average home values can indicate a strong Section 8 presence, which can stabilize the rental market and offer predictable income for landlords. However, since the renter share percentage is also unavailable, we cannot confirm if this is indeed a sweet spot for Section 8 investments.
To fully understand the potential of 37132 as a real estate investment, particularly for those interested in Section 8 tenancy, it would be beneficial to seek out additional local market data. This includes the average market rent and home values, as well as the percentage of residents who are renters, which can help clarify the ZIP code's position within the Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area.
Data Sources: FMR data from HUD (2027). 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.