Location: Cleveland, TN | Metro: Cleveland, TN MSA
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 | $800 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,440 | $399,024 | 0.36% | F |
U.S. Census Bureau data (2024)
ZIP 37310, located in Tennessee, presents a unique opportunity for landlords and small-portfolio investors when considering the yield and stability of the market. According to the Fair Market Rent (FMR) data for fiscal year 2024, the FMR for ZIP 37310 is $900. In contrast, the market rent stands at $933, indicating that the rental market slightly exceeds the FMR. The median home value in the area is $356,719, which is relatively high compared to the rental figures.
The stability of the market can be gauged by the percentage of renters, which is 17.0%, and the median household income, which is $81,645. These figures suggest that while there is a significant number of homeowners, the income level supports a stable rental market. However, the lack of data on days on market (DOM) indicates uncertainty regarding how quickly properties can be rented out, which could affect the overall stability and cash flow predictability.
Evaluating the investment potential using the criteria from fmr.fyi, ZIP 37310 appears to fall into a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The effective rent-to-price ratio is modest given the higher median home value, suggesting that while the cash flow is predictable, it may not offer exceptionally high yields.
To summarize, ZIP 37310 offers a balanced approach with decent yields ($900 FMR vs $933 market rent) and moderate stability due to the income levels and homeowner percentages. However, the absence of specific data on DOM introduces an element of unpredictability. Therefore, this area is best suited for those seeking a reliable, albeit not extremely lucrative, rental investment.
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.