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 | $2,150 |
| 1 Bedroom | $2,240 |
| 2 Bedrooms | $2,440 |
| 3 Bedrooms | $3,130 |
| 4 Bedrooms | $3,800 |
| 5 Bedrooms | $4,408 |
| 6 Bedrooms | $4,937 |
| 7 Bedrooms | $5,332 |
| 8 Bedrooms | $5,599 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,440 | $371,794 | 0.66% | D |
| 3BR | $3,130 | $544,229 | 0.58% | F |
| 4BR | $3,800 | $837,386 | 0.45% | F |
| 5BR | $4,408 | $1,206,042 | 0.37% | F |
U.S. Census Bureau data (2024)
The Section 8 housing analysis for ZIP code 37179, which encompasses Thompsons Station, TN, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 37179 in fiscal year 2024 is set at $2430, while the Zillow Observed Rent Index (ZORI) indicates that the average market rent is $2,081. This means the FMR is higher by $349, or approximately 16.8%, compared to the market rent.
In this scenario, where the FMR exceeds the market rent, landlords can benefit from renting to voucher tenants. The difference of $349 per month represents additional income that can be realized by accepting Section 8 vouchers. This makes the ZIP code an attractive yield play for landlords and small-portfolio investors looking to maximize their rental income without having to charge significantly above the local market rate.
Thompsons Station, TN, has a relatively low percentage of renters at 13.3%, indicating that the majority of residents own their homes. The median home value in the area is $733,858, and the median household income is $136,188. These figures suggest that the local economy supports homeownership but also presents opportunities for rental properties, particularly those that can attract voucher tenants.
Accepting Section 8 vouchers in a market where the FMR is above the actual rent can help landlords fill vacancies and ensure steady, government-backed rental payments. It also allows them to tap into a segment of the population that might otherwise struggle to find affordable housing. Given the economic context of Thompsons Station, this strategy can be especially beneficial for properties that are priced below the FMR threshold.
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.