Location: Jackson County, TN | Metro: Macon County, 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 | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $339,823 | 0.36% | F |
U.S. Census Bureau data (2024)
ZIP code 37145 is situated within the Jackson County, TN metro area. The Federal Market Rent (FMR) for this ZIP is set at $860 for fiscal year 2024, which is higher than the average market rent of $729. This indicates that while the government's subsidized rental rates are above what the market typically offers, the actual cost to tenants remains lower due to subsidies.
The median home value in ZIP 37145 is $259,149, which is relatively high compared to the county average. This suggests that property owners in this ZIP could potentially command higher rents due to the higher investment in their properties. However, the fact that only 6.5% of residents are renters points to a predominantly owner-occupied area, which might limit the number of available rental units and affect the dynamics of the rental market.
To determine if ZIP 37145 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we need to consider the relationship between FMR and market rent. With an FMR of $860 and a market rent of $729, the difference indicates a potential for landlords to benefit from the Section 8 program without necessarily competing on price with non-subsidized rentals. This scenario could make 37145 a desirable location for Section 8 landlords looking for a balance between subsidy income and market competitiveness.
A divergence worth noting is the relatively low renter share of 6.5%, despite the higher FMR. In other areas with similar characteristics, a higher renter share might signal a concentration of Section 8 housing, but here, the low share implies fewer rental units overall. This could mean that landlords in 37145 have less competition from other rental properties, making it easier to attract Section 8 tenants.
In summary, ZIP 37145 appears to be a mid-tier neighborhood within the Jackson County, TN metro, offering a mix of higher median home values and a favorable FMR-to-market-rent ratio for Section 8 landlords. The low renter share suggests limited competition, which can be advantageous for those who wish to invest in Section 8 housing in this area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.