Location: Franklin County, TN | Metro: Coffee County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
U.S. Census Bureau data (2024)
The ZIP code 37330 presents a dynamic rental market, driven by specific economic indicators that reveal the underlying forces at play. The Fair Market Rent (FMR) for the area is set at $1,130, reflecting the fiscal year 2026 metro area standards. In contrast, the actual market rent, as reported by the Census ACS, stands at $909. This discrepancy suggests a market where demand is currently lower than supply, as landlords might be offering slightly reduced rents to attract tenants.
A key metric in understanding the market's trajectory is the price-cut share, which is currently at 0.2%. This indicates that very few properties are being discounted, implying a relatively stable market where most properties are holding their value. The median home value of $315,472 further supports this stability, showing that homeownership remains a significant factor in the local economy.
The 10.5% renter share highlights an important aspect of the long-term housing dynamics. A smaller proportion of renters compared to homeowners can suggest less immediate pressure on rental properties. However, it also points to a potential long-term challenge: as the cost of homeownership rises, more individuals may shift towards renting, thereby increasing future housing pressures on the rental market.
In summary, ZIP 37330 is characterized by a rental market where supply slightly exceeds demand, evidenced by the gap between FMR and market rent. The low price-cut share and stable median home value indicate a resilient real estate environment. As the number of renters increases, so too will the challenges in maintaining a balanced market, making it crucial for landlords and investors to remain vigilant to these shifts.
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.