Location: Moore County, TN | Metro: Bedford County, TN
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 | $840 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $390,767 | 0.39% | F |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 37183 highlights several challenges that could impact a landlord's profitability when participating in the Section 8 program. Tenant turnover is a significant concern, with the market rent at $1,088 being notably higher than the Fair Market Rent (FMR) of $980 for fiscal year 2026. This disparity suggests that tenants may struggle to afford the market rate and could lead to frequent turnover, impacting rental income stability.
Vacancy exposure is another issue to consider. The data does not provide a specific number of days on the market (DOM), which makes it difficult to predict how long properties might remain vacant. In areas where rental demand is not robust, extended vacancies can be costly for landlords, especially if they are accustomed to the steady flow of tenants seen in more active markets.
Deferred maintenance is also a risk factor. With a typical home value of $401,005 and a median income of $81,126, homeowners may find themselves unable to keep up with necessary property repairs and improvements. This can pose a problem for landlords who must ensure their properties meet housing quality standards set by the Section 8 program, potentially leading to unexpected expenses.
However, these risks must be weighed against the high concentration of renters in the area, represented by a 13.4% renter share. High renter density typically correlates with greater demand for rental properties, including those accepting Section 8 vouchers. This increased demand can help mitigate the risks associated with tenant turnover and vacancy exposure, as there is a larger pool of potential tenants.
In conclusion, despite the challenges posed by tenant turnover, vacancy exposure, and deferred maintenance, the high renter density in ZIP 37183 presents an opportunity for landlords. The verdict is moderate risk for a first-time Section 8 landlord. While there are notable risks, the high demand for rentals can provide a buffer against some of these issues.
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.