Location: Grundy County, TN | Metro: Grundy County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The ZIP code 37313 is a small, close-knit neighborhood with a population of 1,590 residents. Only 12.6% of these residents are renters, indicating a primarily owner-occupied area. The median household income here stands at $43,218, which is modest but stable. Median home values in the area are relatively high at $242,557, suggesting a mix of middle-class homeownership and potentially some older, established housing stock.
From an investment perspective, the rental market in ZIP 37313 offers an interesting contrast. According to the Census Bureau's American Community Survey (ACS), the average market rent is $488. However, the Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for the metro area in fiscal year 2026 is significantly higher at $930. This discrepancy presents opportunities for landlords and investors who can leverage the HUD's FMR to secure higher rents through Section 8 vouchers.
Given the characteristics of ZIP 37313, it would likely appeal to both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stability of the neighborhood and the potential to attract tenants with Section 8 vouchers could provide consistent cash flow with minimal management effort. On the other hand, hands-on investors might see the opportunity to improve properties and command rents closer to the HUD's FMR, thus increasing their revenue and property value over time.
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.