Location: Moore 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 | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,360 | $355,893 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 37352 is situated in a suburban area characterized by a relatively small population of 3,166 residents. With 21.8% of the population being renters, it indicates a community where the majority of individuals own their homes, suggesting a stable and possibly family-oriented environment. The median household income in this area stands at $68,438, reflecting a middle-class neighborhood that is neither affluent nor struggling financially. Median home values in ZIP 37352 are notably high at $354,223, which underscores the desirability and quality of life in the region.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930. This figure, however, exceeds the current market rent of $758 as reported by the Census ACS. This discrepancy highlights an opportunity for investors, as properties could potentially be rented above the market rate but still within the FMR guidelines, allowing for higher returns while remaining accessible to tenants eligible for Section 8 vouchers.
Considering the practical implications for investors, ZIP 37352 presents a mixed scenario. For hands-off operators who prefer minimal tenant interaction and straightforward management, the relatively low percentage of renters and the presence of a stable, owner-occupied housing market might pose challenges. These conditions suggest a preference for owner-occupied units over rentals, which could limit the demand for Section 8 properties.
Conversely, for hands-on value-add buyers looking to renovate and improve properties, there exists a potential niche. By targeting the 21.8% of renters and focusing on enhancing the appeal of rental units to meet or slightly exceed the current market rent without surpassing the FMR, these investors can create a competitive advantage. The difference between the FMR and the market rent offers a margin for improvement and investment in property enhancements, which can lead to increased occupancy rates and higher rental incomes.
In summary, ZIP 37352 is best suited for investors willing to engage actively in property management and value enhancement. While the market may not support a large volume of rental properties, strategic investments in improving the quality of rental units can yield favorable returns, aligning with both the needs of Section 8 tenants and the economic realities of the area.
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.