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 | $1,460 |
| 1 Bedroom | $1,520 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,520 | $277,884 | 0.55% | F |
| 2BR | $1,660 | $317,214 | 0.52% | F |
| 3BR | $2,130 | $405,091 | 0.53% | F |
| 4BR | $2,580 | $544,484 | 0.47% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP 37210 market in Nashville, TN, reveal a balanced yet competitive environment. With a Fair Market Rent (FMR) of $1440 for fiscal year 2024 and a market rent (ZORI) at $1,805, it's evident that the rental market is robust and exceeds the federal guidelines. This suggests that the area has a strong demand for rental properties, especially among those who qualify for Section 8 assistance.
The low price-cut share of 0.3% indicates that landlords are generally setting their rents close to the market rate without needing to lower prices significantly to attract tenants. While the days on market (DOM) data is not available, the median home value of $370,482 implies a stable residential property market, which could mean that homes are selling relatively quickly at or near asking prices.
A key indicator of long-term housing pressure is the 69.7% renter share, which is exceptionally high. This statistic points to a significant portion of the population preferring or being forced into renting, rather than purchasing. Such a high percentage of renters can lead to sustained upward pressure on rental rates due to limited availability of affordable housing options for purchase. It also signals potential challenges for homeownership, as a majority of residents may be unable to afford homes even at the median value.
In conclusion, the market in ZIP 37210 is characterized by strong rental demand, with rental prices above the federal guidelines. The high renter share suggests ongoing housing pressure, making it an attractive market for landlords and investors focused on rental income. However, the lack of available sales data means that the exact balance between supply and demand cannot be determined, though the stable home values suggest a healthy property market overall.
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.