Location: Kingsport-Bristol, TN | Metro: Johnson City, TN 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 | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $233,686 | 0.56% | F |
| 3BR | $1,570 | $367,452 | 0.43% | F |
| 4BR | $1,730 | $533,357 | 0.32% | F |
| 5BR | $2,007 | $800,559 | 0.25% | F |
U.S. Census Bureau data (2024)
The ZIP code 37615, located in Johnson City, TN, is a mixed housing market with a significant portion of renters. With a total population of 22,821, 25.1% of residents are renters, indicating a substantial demand for rental properties. The median household income stands at $77,525, which provides a benchmark for assessing the affordability of rents.
The average market rent in this area is $1,742 per month. This amount represents approximately 22.5% of the median household income, suggesting that while rent is a considerable expense, it remains within a manageable range for most households. In comparison, the Fair Market Rent (FMR) for the area, as determined by HUD for FY 2024, is set at $1,160. This lower figure reflects the maximum amount a low-income family can pay towards rent under the Section 8 program.
The difference between the market rent ($1,742) and the FMR ($1,160) indicates a gap where Section 8 vouchers are less likely to cover the full cost of renting. Landlords in ZIP 37615 should anticipate that tenants using Section 8 vouchers will be looking for properties priced closer to the FMR level. This means that landlords who wish to attract these tenants must be willing to accept a subsidy that covers only part of the market rent.
A landlord in this ZIP code should expect a tenant pool that includes individuals and families relying on Section 8 vouchers to supplement their housing budget. These tenants are likely to have incomes below the median, and they will be seeking affordable housing options that do not exceed the FMR threshold. It's important for landlords to understand the administrative requirements of the Section 8 program and to ensure that their properties meet the necessary standards for participation.
In summary, ZIP 37615 is a viable market for Section 8 tenants, but landlords need to price their units accordingly to remain competitive within the voucher system. The expected tenant profile consists of low-income families who are sensitive to housing costs and rely on government assistance to secure suitable living conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.