Location: Moore County, TN | Metro: Bedford County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 37360 in the metro area for fiscal year 2026 is set at $930. This figure represents the payment standard under the Section 8 housing choice voucher program, meaning it's the maximum amount the government will pay to cover a tenant's rent. It does not reflect the actual rent you can charge your tenants.
In comparison, the average local rent for ZIP 37360 is $1,297, according to recent Census American Community Survey data. This suggests that while the FMR might be lower than market rates, there is still a significant demand for affordable housing options. With 23.4% of residents being renters, there is a notable portion of the population looking for housing assistance, which could translate into a steady stream of potential tenants.
If you're considering acquiring a property in ZIP 37360 for your first Section 8 rental, you'll find that the median home value is approximately $400,711. This is a substantial investment, but given the high renter share and the need for affordable housing, it could be a sound financial decision.
Before proceeding, it's crucial to verify that the property meets all the necessary requirements for participation in the Section 8 program. This includes ensuring the property is up to the Housing Quality Standards (HQS), which are specific safety and habitability criteria set by the Department of Housing and Urban Development (HUD).
To summarize, the FMR of $930 is the government's maximum payment towards rent, not the rent you charge. The local average rent of $1,297 indicates a higher market rate, but with 23.4% of the population renting, there is demand for affordable units. At an acquisition cost of around $400,711, it's a significant investment, but the potential for consistent tenancy makes it worthwhile. Ensure the property meets HQS to avoid any issues once you decide to proceed.
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.