Location: Grundy County, TN | Metro: Grundy County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The ZIP code 37339 represents a small, tight-knit community with a total population of 1,319. Only 5.8% of the residents are renters, indicating a primarily owner-occupied area where the median income stands at $49,063. The median home value is notably higher at $186,638, suggesting that homeownership is valued and that properties tend to appreciate over time. This context paints a picture of a stable, middle-income neighborhood where long-term residents likely have a strong sense of community.
Turning to the rent economics, the Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $1,100. However, specific market rent data for ZIP 37339 is currently unavailable, which could imply that the local rental market is less active or that there's limited data due to the low percentage of renters. Given the FMR figure, landlords can expect to charge around $1,100 per month for a standard unit, though actual rents may vary based on property condition and location within the ZIP code.
For a hands-off voucher operator, ZIP 37339 presents challenges. With only 5.8% of the population renting, there may be fewer potential Section 8 tenants, making it harder to fill units consistently. Moreover, the low number of renters suggests that demand might be lower, potentially affecting occupancy rates. For a hands-on value-add buyer, however, there could be opportunities. By improving property conditions and offering amenities that attract the local rental market, such as proximity to schools or parks, a landlord can create a niche that capitalizes on the community's stability and appreciation for homeownership.
In summary, ZIP 37339 is best suited for an investor willing to engage actively with their properties and the community, rather than relying solely on passive income from rental vouchers. The area's characteristics favor a strategy focused on enhancing property values and tenant satisfaction to thrive in a smaller, yet potentially loyal, rental market.
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.