Section 8 Fair Market Rent (FMR) for ZIP 37318 - 2027

Location: Franklin County, TN | Metro: Franklin County, TN

Investment Score for ZIP 37318

N/A
Monthly Rent (2BR)
$1,000
Median Price (2BR)
$N/A
1% Rule
0%
Annual Yield
0%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$760
1 Bedroom$760
2 Bedrooms$1,000
3 Bedrooms$1,320
4 Bedrooms$1,660
5 Bedrooms$1,926
6 Bedrooms$2,157
7 Bedrooms$2,330
8 Bedrooms$2,447

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms Monthly FMR Median Price 1% Rule Grade
3BR $1,320 $208,013 0.63% D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
2,103
Median Household Income
$52,125
Housing Units
765
Renter Percentage
36.9%
Occupancy Rate
95.6%
Renter Occupied
270

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.