Location: Nashville-Davidson--Murfreesboro--Franklin, TN | Metro: Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,260 |
| 1 Bedroom | $2,350 |
| 2 Bedrooms | $2,560 |
| 3 Bedrooms | $3,290 |
| 4 Bedrooms | $3,990 |
| 5 Bedrooms | $4,628 |
| 6 Bedrooms | $5,183 |
| 7 Bedrooms | $5,598 |
| 8 Bedrooms | $5,878 |
U.S. Census Bureau data (2024)
ZIP code 37219, located in Nashville, Davidson County, Tennessee, stands out due to its unique demographic and economic characteristics. With a total of 2,398 residents, it has an unusually high rental rate of 80.0%, indicating a strong demand for rental properties. The median household income in this area is $105,476, which is significantly higher than the national average. Additionally, the median home value is $456,934, reflecting the overall prosperity of the neighborhood.
The voucher economics in ZIP 37219 are favorable for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $2,200, while the market rent, as measured by ZORI (Zillow Observed Rent Index), is $1,894. This means that landlords participating in the Section 8 program can potentially charge a premium over the market rate, thus increasing their revenue streams. The difference between the FMR and the ZORI suggests a robust opportunity for landlords to leverage the Section 8 program effectively.
Based on the data signature of ZIP 37219, the area reads as stable. The high median income and median home values indicate a financially secure population, while the high rental rate suggests a consistent demand for rental housing. These factors combined make ZIP 37219 an attractive investment for those looking to enter or expand their presence in the Nashville rental market.
Data Sources: FMR data from HUD (2027). 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.