Location: Nashville-Davidson--Murfreesboro--Franklin, TN | Metro: Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,860 |
| 5 Bedrooms | $3,318 |
| 6 Bedrooms | $3,716 |
| 7 Bedrooms | $4,013 |
| 8 Bedrooms | $4,214 |
The analysis of ZIP code 37222 within the Nashville-Davidson--Murfreesboro--Franklin, TN HUD Metro FMR Area highlights several critical points for landlords and small-portfolio investors.
First, does the rent math work? The Fair Market Rent (FMR) for ZIP 37222 in fiscal year 2024 is set at $1650. However, the market rent data is currently unavailable, which means it's impossible to compare FMR against actual market rates. Without this comparison, landlords cannot determine if they can cover their costs and generate a profit based on the current FMR.
Second, is acquisition affordable? The median home value in the area is not available, nor are the days on market (DOM) or the percentage of homes that have been discounted. This lack of data makes it difficult to assess whether purchasing properties in this ZIP code aligns with investment goals regarding affordability and market conditions.
Third, is there tenant demand? The population figure and the percentage of renters in the area are also missing. These metrics are crucial for understanding the potential pool of tenants and the competition for rental properties. Without these numbers, it's challenging to gauge the likelihood of finding and retaining tenants.
In summary, while the FMR for ZIP 37222 is established at $1650, the absence of key data such as market rent, median home values, DOM, price-cut shares, population, and renter share percentages leaves significant gaps in the analysis. Landlords and investors should seek additional local market data before making decisions about entering this ZIP code. The current information is insufficient to confidently assess the viability of rental investments in this area.
Data Sources: FMR data from HUD (2027).
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.