Location: Grundy County, TN | Metro: Franklin County, TN
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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $271,064 | 0.5% | F |
U.S. Census Bureau data (2024)
960 is the Fair Market Rent (FMR) for ZIP code 37324 as of metro fiscal year 2026, indicating the maximum rental amount for units to qualify under the Section 8 program. 869 represents the average market rent based on Census ACS data, showing a gap between the FMR and what tenants typically pay. This suggests potential opportunities for landlords to maximize their returns while still qualifying for Section 8 subsidies.
259,529 is the median home value in ZIP 37324, which provides context for property values in the area. However, it's important to note that this figure does not directly impact rental decisions but can influence overall real estate trends and investment strategies.
38.5% is the share of renters in the population, highlighting a significant portion of the community that relies on rental housing. This percentage underscores the demand for rental properties and the importance of understanding local tenant dynamics.
50,417 is the median income for residents in ZIP 37324, which is crucial for determining the eligibility of potential tenants for Section 8 assistance. Landlords should consider this figure when setting rents to ensure they remain competitive yet comply with Section 8 guidelines.
N/A indicates that the data for days on market (DOM) is not available, suggesting that there might be a lack of recent sales data or that the real estate market in 37324 is relatively stable with consistent turnover rates.
0.3% is the price-cut share, meaning only a small fraction of listings have been reduced in price, which could indicate a strong seller's market where homes sell at or near asking price.
Based on these figures, landlords and small-portfolio investors in ZIP 37324 can set competitive rents up to $960 and expect a steady stream of tenants given the 38.5% renter share. The $869 market rent provides a benchmark for pricing, ensuring that units are attractive to potential tenants without exceeding the FMR. With the median income at $50,417, the likelihood of finding eligible Section 8 tenants is high. The low price-cut share of 0.3% signals a robust market where homes sell quickly, reducing the risk of prolonged vacancies. In conclusion, ZIP 37324 presents a favorable environment for Section 8 investments, with strong demand and reasonable pricing parameters.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.