Location: Kingsport-Bristol, TN | Metro: Kingsport-Bristol, TN-VA 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 | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $179,578 | 0.58% | F |
| 3BR | $1,320 | $293,180 | 0.45% | F |
| 4BR | $1,410 | $423,846 | 0.33% | F |
| 5BR | $1,636 | $558,158 | 0.29% | F |
U.S. Census Bureau data (2024)
The ZIP code 37664, located in Kingsport, TN, is a renter-heavy area with significant demand for housing vouchers. With a population of 28,267, nearly 29.0% of residents are renters, indicating a substantial portion of the community relies on rental housing. The median household income in this area stands at $63,653, which provides a critical context for understanding the affordability of housing.
The market rent for the area is $1,621 per month, representing approximately 31.6% of the median household income. This figure suggests that typical rent consumes a considerable share of local residents' earnings, making it challenging for many to afford housing without assistance. Comparatively, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $910, which is significantly lower than the market rent, highlighting the gap between affordable housing and the actual cost of living in the area.
This discrepancy underscores the potential depth of voucher demand in Kingsport. Landlords in ZIP 37664 should anticipate a high number of tenants seeking housing assistance through Section 8 vouchers. These tenants will likely have their rent subsidized to align with the FMR, reducing the financial burden on them and ensuring a steady stream of rental income for landlords.
In summary, Kingsport's ZIP 37664 is well-suited for landlords and small-portfolio investors looking to cater to a tenant pool that heavily relies on housing vouchers. The expected tenants will be those who need financial support to meet the market rent, making Section 8 an attractive option for both affordability and stability in the rental market.
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.