Location: Warren County, 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 | $1,040 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,500 | $338,742 | 0.44% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 37190 in fiscal year 2024 is set at $1270. This figure represents the maximum amount that a landlord can receive from the federal government under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will charge your tenants; it's the reimbursement limit for the government subsidy.
In comparison, the average rent for properties in ZIP 37190, according to recent Census American Community Survey data, is around $893. This means that the FMR is significantly higher than the typical market rate, which can be advantageous for landlords participating in the Section 8 program. The difference between the FMR and the local average rent indicates that landlords can potentially receive a higher subsidy amount per unit, thereby ensuring a more stable income source.
About 25.0% of households in ZIP 37190 are renters, suggesting a moderate demand for rental properties. However, the interest in affordable housing options could be even higher given the financial constraints many face. With an FMR of $1270, landlords can attract tenants who qualify for the Section 8 vouchers, filling their units with reliable occupants.
If you're looking to acquire a property in this area for your first Section 8 rental, the median home value stands at approximately $315,975. This price point reflects the typical cost of a home in the region and can help you assess whether the potential rental income aligns with your investment goals. Keep in mind that this is a median figure, so individual property values may vary depending on condition, location, and other factors.
Before proceeding with your investment, verify that the property meets all the necessary requirements for the Section 8 program. This includes ensuring the unit is in good repair and passes inspection standards set by the housing authority. Failure to meet these criteria can result in disqualification from the program, regardless of the FMR or local rent averages.
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.