Location: Cleveland, TN | Metro: Cleveland, TN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 37333 is poised for careful consideration by both landlords and small-portfolio investors. With a median home value set at $143,517, the area presents an entry point that is accessible to many investors looking to diversify their portfolios. The absence of percentage reductions in listings and the unspecified median days on market (DOM) suggest a stable market where neither significant distress nor rapid turnover is occurring. This stability can be a sign of balanced supply and demand, which typically supports maintaining property values.
On the rental side, the Fair Market Rent (FMR) for ZIP 37333 in fiscal year 2024 is pegged at $1070. This figure represents a benchmark for rental rates in the area, indicating that properties can command a reasonable rent without being overly aggressive in pricing. However, the lack of specific market rent data leaves room for interpretation regarding how closely actual rents align with the FMR. Landlords should keep a close eye on local rental trends to ensure they remain competitive yet profitable.
For long-term investors, the appreciation thesis in ZIP 37333 is somewhat muted due to the limited data available. A median home value that has not seen significant fluctuations suggests that while appreciation might occur, it is likely to be modest rather than robust. The key to success in this market will be in identifying properties that offer potential for value addition through renovation or strategic location upgrades, rather than relying solely on broad market appreciation.
In summary, ZIP 37333 offers a stable real estate environment with a median home value of $143,517, supporting steady income generation through rentals at the $1070 FMR level. Long-term investors should focus on value-added strategies for meaningful returns, given the current data points imply a market with moderate growth potential.
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.