Location: Knoxville, TN | Metro: Knoxville, TN HUD Metro FMR Area
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 | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,250 | $236,080 | 0.53% | F |
| 3BR | $1,610 | $336,805 | 0.48% | F |
| 4BR | $1,880 | $426,274 | 0.44% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) set at $1310 for ZIP 37721 (Corryton, TN), landlords should take note that this reflects the maximum amount eligible for Section 8 vouchers in the area. Meanwhile, the Zillow Observed Rent Index (ZORI) stands at $1,969, indicating that the average market rent is significantly higher, suggesting strong demand for rental properties. The median home value in Corryton is $328,038, which provides a solid foundation for property investments, given the area's established housing stock.
The renter share in Corryton is 17.7%, showing that nearly one in five residents rely on renting their homes. Coupled with a median income of $64,892, this points to a segment of the population that could benefit from affordable housing options provided through the Section 8 program. The days on market (DOM) for properties is 25 days, demonstrating a relatively quick turnover rate for listings, which can be advantageous for landlords looking to manage their properties efficiently.
Furthermore, the price-cut share of 0.2% indicates that very few properties require price adjustments, a positive sign for maintaining rental rates without frequent concessions. This data paints a picture of a stable and slightly growing rental market, where Section 8 properties can fill a niche for those who cannot afford the average market rent.
In conclusion, while the market rent is higher at $1,969 compared to the $1310 FMR, the combination of a median home value of $328,038 and a median income of $64,892 suggests that there is both an opportunity and a need for affordable rental units. With a low price-cut share of 0.2% and a DOM of 25 days, landlords can expect a steady flow of tenants and maintain competitive pricing without significant adjustments. For small-portfolio investors, Corryton offers a balanced environment where Section 8 properties can be a valuable addition to their portfolio.
Verdict: Section 8 properties are a viable investment option in Corryton, TN.
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.