Location: Johnson City, 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 | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $195,212 | 0.53% | F |
| 3BR | $1,260 | $273,397 | 0.46% | F |
| 4BR | $1,400 | $339,420 | 0.41% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $970 for ZIP code 37643, landlords in Elizabethton, TN can expect higher rental incomes compared to the average market rent of $732 as reported by the Census Bureau's American Community Survey. This discrepancy suggests a significant opportunity for property owners to capitalize on the higher FMR set by HUD for Section 8 tenants. The median home value stands at $230,297, indicating a moderate housing market where investment properties can be acquired without excessive capital outlay. Given that 25.2% of residents are renters, there is a notable demand for rental properties, making it a viable market for small-portfolio investors. The median income of $51,831 aligns well with the FMR, supporting the notion that a substantial portion of the population can afford Section 8 rents.
Average days on market (DOM) of 25 days reflects a healthy turnover rate for rental properties, reducing the time and cost associated with vacancy. The low price-cut share of 0.3% suggests that once listed, properties are likely to attract tenants without needing to reduce the asking price, which is beneficial for maintaining profit margins. These figures paint a picture of a stable and somewhat favorable rental market in Elizabethton, TN, particularly for those interested in Section 8 properties.
The data clearly shows that the potential for successful Section 8 investments in ZIP 37643 is strong. With a higher FMR than market rent, a reasonable median home value, and a moderate income level that supports the rental rates, landlords and small-portfolio investors can find attractive opportunities here. The quick market absorption rate and low need for price adjustments further enhance the viability of such investments.
Verdict: ZIP 37643 presents a good opportunity for Section 8 investments.
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.