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 | $1,070 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $250,122 | 0.55% | F |
| 3BR | $1,660 | $363,666 | 0.46% | F |
| 4BR | $1,830 | $450,556 | 0.41% | F |
| 5BR | $2,123 | $714,529 | 0.3% | F |
U.S. Census Bureau data (2024)
ZIP code 37659, located in Jonesborough, TN, is primarily a homeowner-dominated area with only 20.3% of the population being renters. This indicates that the demand for rental properties, including those supported by Section 8 vouchers, is relatively low compared to areas with a higher percentage of renters. The total population of 29,080 suggests a modest-sized market for rentals.
The median household income in the area is $71,110, which provides context for the affordability of housing. The typical market rent of $1,469 represents approximately 20.6% of the median household income. This percentage is significant and highlights the financial burden that renting can impose on residents. For comparison, the Fair Market Rent (FMR) for the area, set at $1,220 for FY 2024, is lower than the market rent, indicating that tenants may struggle to find affordable housing options without assistance.
In ZIP 37659, landlords should expect a mix of tenants, but given the homeowner-dominated landscape, the number of potential Section 8 tenants will be limited. These tenants will likely have a household income below the median, making them eligible for the voucher program. The disparity between the FMR and market rent suggests that tenants relying on vouchers will face challenges in finding suitable housing, potentially leading to increased competition for affordable units.
To summarize, while there is a rental market in Jonesborough, it is not heavily populated, and the presence of Section 8 vouchers is expected to be less common due to the larger proportion of homeowners. Landlords should prepare for tenants who are financially constrained, with a significant portion of their income dedicated to housing costs. The voucher amount of $1,220 may not cover the full market rent, requiring landlords to either adjust their rents or consider other forms of financial assistance for their tenants.
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.