Location: Johnson City, TN | Metro: Johnson City, TN MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The investment landscape for Section 8 properties in ZIP code 37614 presents several challenges that potential landlords should be aware of. Firstly, tenant turnover is a significant concern due to the discrepancy between the market rent and the Fair Market Rent (FMR) set at $1150 for FY 2024. This could lead to frequent changes in occupancy, which can disrupt the stability of rental income.
Vacancy exposure is another issue, given the lack of data on the average days on market (DOM). Without this information, it's difficult to predict how long a property might remain vacant between tenants, which could result in financial losses during those periods.
Deferred maintenance is also a risk factor. The absence of data on the typical home value and median income in ZIP 37614 makes it hard to assess the likelihood of residents performing necessary upkeep on their homes. This could mean higher repair costs for landlords if tenants do not maintain the property adequately.
However, these risks are tempered by the high renter share in the area, which is currently at an unspecified percentage. High renter density generally translates into higher demand for rental vouchers, which can be beneficial for landlords willing to participate in the Section 8 program. The presence of many renters often indicates a robust market for subsidized housing, which can help ensure consistent occupancy rates.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.