Location: Kingsport-Bristol, TN | Metro: Kingsport-Bristol, TN-VA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
The ZIP code 37662, located within the Kingsport-Bristol, TN-VA MSA, has a Fair Market Rent (FMR) of $910 for FY 2024. This figure is notably lower than the 2025 HUD FMR for a two-bedroom unit in the Kingsport-Bristol, TN-VA MSA, which is set at $1,043/month. In comparison, the overall Virginia average FMR for a two-bedroom home is $835 per month. Given that the market rent and home value data for ZIP 37662 are currently unavailable, we can infer from the FMR alone that it likely represents a value pocket within its metro.
The FMR serves as a benchmark for affordable housing subsidies such as Section 8 vouchers. A lower FMR compared to the broader MSA suggests that rental costs in ZIP 37662 are below the metro average, making it an attractive location for low-income renters who rely on housing assistance programs. The absence of specific market rent and home value data prevents a direct comparison, but the lower FMR implies that market rents might also be below the metro average.
The lack of available data on the renter share percentage makes it difficult to assess if ZIP 37662 exhibits characteristics of a Section 8 sweet spot, such as a high concentration of renters alongside relatively low home values. However, the combination of an FMR below the metro average and the potential for similarly low market rents indicates that 37662 could be a valuable investment for landlords and small-portfolio investors seeking properties where rental income aligns well with tenant affordability.
To summarize, ZIP 37662 appears to be a value pocket within the Kingsport-Bristol, TN-VA MSA, offering rental opportunities at a price point that is below the metro average. This positioning aligns well with the needs of tenants who receive housing assistance, potentially leading to a stable rental market with predictable demand.
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.