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 | $1,590 |
| 1 Bedroom | $1,650 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,800 |
| 5 Bedrooms | $3,248 |
| 6 Bedrooms | $3,638 |
| 7 Bedrooms | $3,929 |
| 8 Bedrooms | $4,125 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,310 | $397,329 | 0.58% | F |
| 4BR | $2,800 | $517,035 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 37146 presents a market in motion, with clear indicators of both supply and demand dynamics at play. The Fair Market Rent (FMR) for the area stands at $1570 for the fiscal year 2024, while the actual market rent as reported by the Census ACS is slightly higher at $1,675. This suggests that landlords can expect to charge a premium over the government's benchmark rate, indicative of a robust rental market.
A 0.3% price-cut share points to a situation where very few properties are being discounted to attract tenants, which could imply that landlords have strong bargaining power due to relatively high demand. However, the lack of data on days on market (DOM) means we cannot definitively assess how quickly properties are being rented or sold. The median home value of $419,125 provides insight into the overall property value in the area, though it doesn't directly inform us about the rental versus purchase dynamics.
The 11.9% renter share indicates that a significant portion of the population in ZIP 37146 owns their homes rather than renting. This high owner-occupancy rate can be interpreted as a sign of stability and long-term investment in the area. For landlords and small-portfolio investors, this implies a steady demand for rental properties but also suggests that there may be less speculative activity compared to areas with a higher renter share. Over the long term, a lower renter share can mean less housing pressure as many residents are likely settled in their homes for extended periods, reducing turnover and potentially leading to more consistent rental income.
In summary, ZIP 37146 offers a stable rental market with modest room for premium pricing. Landlords can expect a relatively firm demand for rental units, supported by the low price-cut share. However, the high median home value and low renter share indicate a predominantly owner-occupied community, which can translate into fewer short-term fluctuations and a more predictable housing landscape.
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.