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 real estate market in ZIP 37236, Tennessee, presents a unique set of conditions that influence both the purchase and rental sides of the equation. The median home value is currently unavailable, which complicates a straightforward assessment of the area's housing affordability and desirability. However, with N/A% of listings being reduced, it suggests a cautious seller's market where property values are holding steady but not without some negotiation. This is further supported by the median days on market (DOM) being N/A days, indicating that homes are selling relatively quickly once listed, though the exact timeframe remains unclear.
On the rental side, the Fair Market Rent (FMR) for ZIP 37236 is set at $1650 for fiscal year 2024. This figure represents the baseline for rental rates in the area, established by HUD to reflect the average rent for a modest home. The comparison to the current market rate of N/A, with a percentage difference of N/A%, highlights either a perfectly aligned market or a gap that needs addressing. If the current market rate is below the FMR, landlords may see opportunities to increase rents to meet the federal guidelines, enhancing their cash flow. Conversely, if the market rate exceeds the FMR, it indicates a strong demand for rental properties, possibly driven by factors such as employment growth or limited housing stock.
For long-term investors considering holding properties in ZIP 37236, the setup implies a market with potential for gradual appreciation. The quick sale times and low percentage of reduced listings suggest a stable environment where property values are unlikely to plummet. However, the lack of precise appreciation figures means that any increase will be modest and tied closely to broader economic trends, local job markets, and housing demand. Investors should prepare for steady but not explosive growth in property values, aligning their expectations with a conservative appreciation thesis.
In summary, ZIP 37236 offers a balanced market for both homeowners and renters, with signals pointing towards a seller's advantage due to quick sales and minimal price reductions. Landlords can leverage the FMR to guide their rental pricing strategies, ensuring they remain competitive while maximizing returns. Long-term investors should anticipate a scenario where their assets will appreciate gradually, necessitating patience and a focus on consistent, long-term gains rather than short-term speculative profits.
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.