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 | $880 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,360 | $320,554 | 0.42% | F |
U.S. Census Bureau data (2024)
1020 is the Fair Market Rent (FMR) for ZIP code 37692 as of fiscal year 2024, indicating the maximum rental amount allowed for Section 8 housing vouchers. 919 is the actual market rent reported by the Census Bureau's American Community Survey, suggesting that properties priced at or below the FMR can still be competitive in the local rental market. 299,255 is the median home value in the area, which reflects the overall property values and can influence rental pricing strategies. 33.9 is the percentage of renters in the community, highlighting a significant portion of the population that might rely on housing assistance programs like Section 8. 53,531 is the median income figure, providing insight into the financial capabilities of potential tenants. While the Days on Market (DOM) and the percentage of price-cut share are not available, these data points would typically inform landlords about the speed of property sales and the necessity of adjusting prices to attract buyers.
Investors should note that the FMR of 1020 is slightly higher than the market rent of 919, offering a margin of profit for those who qualify their properties under the Section 8 program. The median home value of 299,255 suggests that there is a mix of property types and sizes, allowing for diverse investment opportunities. With 33.9 percent of residents being renters, there is a substantial demand for affordable housing options, making Section 8 a viable strategy for securing long-term tenants. However, the median income of 53,531 implies that many residents may need financial assistance to afford housing, aligning well with the Section 8 program's aim to support low-income families.
To conclude, the data from ZIP 37692 supports the viability of participating in the Section 8 program, given the alignment between FMR and market rents, coupled with a significant renter population and median income levels that necessitate affordable housing solutions.
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.