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 | $1,640 |
| 1 Bedroom | $1,710 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,390 |
| 4 Bedrooms | $2,900 |
| 5 Bedrooms | $3,364 |
| 6 Bedrooms | $3,768 |
| 7 Bedrooms | $4,069 |
| 8 Bedrooms | $4,272 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,710 | $153,200 | 1.12% | B |
| 2BR | $1,860 | $283,873 | 0.66% | D |
| 3BR | $2,390 | $409,986 | 0.58% | F |
| 4BR | $2,900 | $557,569 | 0.52% | F |
| 5BR | $3,364 | $648,505 | 0.52% | F |
U.S. Census Bureau data (2024)
Situated in South Nashville, the 37211 zip code offers a mix of established suburban neighborhoods and convenient commercial corridors. The area is characterized by a blend of single-family homes and apartment complexes, drawing residents who value proximity to Nashville’s job centers. A major local employer and landmark is the Nashville International Airport, located just north of the zip code, which provides a steady economic base and supports a workforce that often requires nearby rental housing. The neighborhood features a diverse array of local dining and retail options along Nolensville Pike, contributing to its vibrant, everyday livability.
From a numerical standpoint, 37211 presents a distinct arbitrage opportunity for voucher holders. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is set at $1,780, significantly outpacing the current market rent of $1,408. This creates a positive gap of $372 per month, allowing landlords to achieve above-market rates. While median home values sit at $398,061, investors can find entry points via the median 2BR sale price of $285,799. However, the market shows some softness, with median days on market reaching 109 days, suggesting that securing reliable, long-term tenants is essential for maintaining consistent returns.
The tenant pool in this area is robust, driven by a 50.8% renter share and a median household income of $71,399. This income level, combined with the high cost of homeownership, fuels strong demand for quality rental units. Families are often drawn to the area for access to local amenities and parks, though specific school performance varies by district within the Davidson County system. For Section 8 investors, the high renter concentration indicates a deep market of prospective tenants, reducing vacancy risk compared to owner-dominated suburbs.
The Section 8 verdict for 37211 is firmly focused on cash flow. The substantial $372 spread between the 2BR FMR and market rent is the standout metric, providing a buffer against market fluctuations. While the 109-day days on market suggests slower sales velocity, the premium achievable through the Housing Choice Program offers immediate income potential that outperforms standard market leasing in this specific zip code.
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.