Section 8 Fair Market Rent (FMR) for ZIP 37618 - 2027

Location: Kingsport-Bristol, TN | Metro: Kingsport-Bristol, TN-VA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$790
1 Bedroom	$880
2 Bedrooms	$1,140
3 Bedrooms	$1,440
4 Bedrooms	$1,530
5 Bedrooms	$1,775
6 Bedrooms	$1,988
7 Bedrooms	$2,147
8 Bedrooms	$2,254

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

12,548

Median Household Income

$63,851

Housing Units

6,046

Renter Percentage

18.4%

Occupancy Rate

87.5%

Renter Occupied

974

Housing Authorities Serving ZIP 37618

Kingsport Housing and Redevelopment Authority (Kingsport, TN) - 1,811 Section 8 vouchers
Bristol Housing (Bristol, TN) - 200 Section 8 vouchers

The ZIP code 37618, located in Bluff City, Tennessee, presents a modest but stable housing market that is influenced by both local economic conditions and federal assistance programs such as Section 8. The area offers a mix of rental properties and homeownership opportunities, with a significant portion of residents relying on rental housing.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 37618 for fiscal year 2024 is set at $940. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 program.
The market rent for a two-bedroom apartment, according to the latest Census American Community Survey (ACS), is slightly lower at $920. This indicates that the actual rental market is closely aligned with the FMR, providing landlords with a predictable income stream.
The median home value in ZIP 37618 is $280,979. This suggests that homeownership is attainable for many residents, yet the rental market remains robust due to other factors.
Renters make up 18.4% of the total population, indicating a moderate demand for rental properties. While not a high percentage, it does suggest a consistent base of tenants.
The median household income in the area is $63,851. This provides insight into the financial capabilities of potential tenants and homeowners, supporting a balanced market.

The analysis of these data points reveals a market in ZIP 37618 where rental properties are fairly priced and align well with federal guidelines. The moderate renter share and median income levels suggest a stable tenant pool capable of meeting rent obligations. For small-portfolio investors and landlords, the area offers a reliable investment opportunity with predictable returns, especially considering the close alignment between the market rent and FMR. However, the relatively low renter share also implies a need to maintain competitive pricing and property quality to attract and retain tenants effectively.

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.