Location: Bledsoe County, TN | Metro: Chattanooga, TN-GA MSA
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 | $1,040 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $231,334 | 0.51% | F |
| 3BR | $1,460 | $357,109 | 0.41% | F |
| 4BR | $1,550 | $524,309 | 0.3% | F |
| 5BR | $1,798 | $735,930 | 0.24% | F |
U.S. Census Bureau data (2024)
The ZIP code 37379, located in Soddy-Daisy, Tennessee, is a distinctive area within Hamilton County. With a population of 29,430 residents, it has a relatively low rental rate at 17.5%, indicating that homeownership is prevalent among its inhabitants. The median income in this ZIP is $88,875, which suggests a middle-class community. Notably, the median home value is quite high at $359,732, reflecting a stable and possibly affluent neighborhood.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,130. This figure contrasts sharply with the actual market rent, as indicated by the ZORI (Zillow Observed Rent Index), which stands at $1,473. This discrepancy means that landlords accepting Section 8 vouchers in ZIP 37379 will receive less than the market rate for their properties. However, the difference between the FMR and ZORI does not necessarily indicate a lack of demand for subsidized housing; it simply highlights the economic realities of the area.
The data signature for ZIP 37379 reads as stable. The high median home value combined with a middle-class income level suggests that the local economy is solid, and there is little indication of significant transitions or changes in the near future. Homeownership is the dominant trend, with only 17.5% of residents renting, which further supports the stability of the area. While the lower FMR compared to the market rent might affect the attractiveness of Section 8 vouchers to some landlords, the overall economic indicators point to a consistent environment where investment can be made with confidence.
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.