Location: Lincoln 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 | $760 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,360 | $273,198 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 37335 stands out within its county due to its unique demographic and economic characteristics. With a population of 2,527 residents, only 5.0% of whom rent their homes, it's evident that this area has a strong preference for homeownership. The median income of $66,316 suggests a middle-class community, while the median home value of $268,973 indicates a stable housing market where property values are relatively high.
When analyzing the potential impact of Section 8 vouchers, the disparity between the Fair Market Rent (FMR) and the actual market rent becomes significant. For fiscal year 2026, the FMR is set at $930, which is notably higher than the Census-reported market rent of $618. This gap presents an opportunity for landlords who can meet the requirements of the program to receive higher rental income than the local average.
The data signature for ZIP 37335 reads as "stable." The high median home value and low percentage of renters suggest a mature residential market with little likelihood of sudden changes. However, the introduction of Section 8 vouchers could slightly alter the dynamics, particularly if more properties become eligible for the program, potentially increasing the number of rental units and affecting overall market rents.
To conclude, ZIP 37335 offers a promising environment for landlords considering participation in the Section 8 program. The higher FMR compared to the market rent provides a financial incentive, while the stability of the local economy and housing market ensures a reliable tenant pool. Landlords should carefully assess the costs and benefits, including any potential impacts on property values and neighborhood composition, before deciding to participate.
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.