Location: Rhea County, TN | Metro: Bledsoe County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The ZIP code 37337 has a population of 1,241 individuals, with 20.0% being renters. The median household income stands at $48,359. To profile this area as a Section 8 tenant pool, we must consider the balance between renters and homeowners, along with the income levels relative to market rents.
This ZIP code is not heavily dominated by renters; rather, it leans towards a homeowner-dominated area where the scarcity of vouchers could be higher. However, the presence of renters indicates there is some demand for rental properties, especially those that cater to lower-income households.
While the specific market rent figures for ZIP 37337 are not provided, we can use the Fair Market Rent (FMR) as a benchmark. For fiscal year 2026, the FMR in the metro area is set at $950. This figure represents a reasonable estimate of what a landlord might charge for a Section 8 voucher holder in this ZIP code.
To understand the financial strain on potential tenants, we can calculate the percentage of income that typical rent consumes. Assuming the FMR of $950 as a proxy for market rent, this would equate to approximately 19.6% of the median household income ($48,359). This suggests that the rent burden is relatively manageable for most households in this ZIP code, even if they have other expenses.
A landlord in ZIP 37337 should expect tenants who rely on Section 8 vouchers to represent a significant portion of their potential rental market. These tenants will likely be working families, seniors, or individuals with disabilities who benefit from government assistance to afford housing. The demand for affordable rentals is present but not overwhelming, given the homeowner-dominated nature of the area.
In conclusion, while ZIP 37337 is not a renter-heavy area, it still offers opportunities for landlords willing to participate in the Section 8 program. The FMR of $950 aligns well with the local income levels, making it feasible for voucher holders to find suitable housing without excessive financial stress.
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.