Location: Campbell County, TN | Metro: Campbell County, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 37729 in Campbell County, Tennessee, reveals key insights for landlords and small-portfolio investors considering investment in this area.
The rent math does not work favorably due to the lack of available market rent data. The Fair Market Rent (FMR) for ZIP 37729 for fiscal year 2024 is set at $910. Without a comparative market rent figure, it's challenging to assess whether properties can be rented out profitably at the FMR rate.
Acquisition appears affordable given the median home value of $127,931. However, the absence of data on days on market (DOM) and the percentage of price cuts suggests that there might be some uncertainty regarding how quickly homes sell and if they require significant price reductions to attract buyers. This could indicate a slower-moving real estate market where patience and strategic pricing may be necessary.
Tenant demand is moderate. With a total population of 1,279 and a renter share of 18.2%, there is a relatively small pool of potential tenants. This indicates that while there is demand, it may not be robust enough to support high rental prices or numerous rental units.
Verdict: ZIP 37729 presents an opportunity for acquisition at a low median home value, but the limited tenant base and lack of clear market rent data pose challenges. Investors should focus on properties that can be rented at or below the FMR of $910 to ensure occupancy. Additionally, careful consideration of the time and effort required to sell homes and the potential need to adjust prices may be necessary to achieve financial success in this market.
Data Sources: FMR data from HUD (2027). 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.