Section 8 Fair Market Rent (FMR) for ZIP 37644 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 37644 in Johnson City County stands out due to the limited availability of specific demographic data such as resident count, percentage of renters, median income, and median home value. However, this does not diminish the importance of understanding the housing voucher landscape for potential landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 37644 is set at $960 for fiscal year 2024. This figure is crucial for landlords who wish to participate in the Section 8 program, as it dictates the maximum rent that can be charged for a unit to be eligible. Despite the lack of precise market rent data, the FMR serves as a benchmark for rental rates in the area.

The voucher economics in ZIP 37644 offer a reliable source of income for landlords. With the FMR established at $960, landlords can expect consistent rental payments from tenants using vouchers. This stability is particularly beneficial in areas where market rents fluctuate or are not well documented.

Given the incomplete data signature for ZIP 37644, it's challenging to definitively classify the area as either stable or transitional. However, the presence of a defined FMR suggests some level of stability in the local rental market, which is reassuring for those looking to invest in properties suitable for Section 8 tenants. Landlords should monitor local trends and consult with local housing authorities for more detailed insights into the economic conditions of the area.

Data Sources: FMR data from HUD (2027).

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.