Location: Greene County, 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 | $700 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $198,775 | 0.51% | F |
| 3BR | $1,280 | $283,962 | 0.45% | F |
| 4BR | $1,380 | $365,067 | 0.38% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 37745, Greeneville, TN, in fiscal year 2024 is set at $910. This figure represents the maximum amount that a landlord can charge a Section 8 tenant for rent. It's important to note that this is not necessarily the actual rent you will receive; it is the benchmark used by the government to determine what is considered a fair rent in the area.
In comparison, the local Zillow Observed Rental Index (ZORI) for Greeneville, TN, stands at $938. This index reflects the average rent prices observed on the private market. The slight difference between the FMR and ZORI suggests that the rental market in Greeneville is closely aligned with government standards, making it a stable environment for Section 8 rentals.
The renter share, which is the percentage of the population renting rather than owning homes, is 25.8%. This indicates a moderate level of demand for rental properties, including those covered under Section 8. Given the FMR and ZORI figures, there is a reasonable expectation that Section 8 tenants will find your property affordable and suitable for their needs.
If you're looking to acquire a new rental property in Greeneville, TN, for use in the Section 8 program, the median home value in the area is approximately $254,337. This is the typical price range you might expect to pay for a property, which could then be rented out to Section 8 tenants. While the initial investment may seem high, the steady income from the Section 8 program can provide a reliable source of revenue over time.
Before committing to a Section 8 rental property in Greeneville, TN, ensure that the property meets the Housing Quality Standards (HQS). These are minimum requirements set by the Department of Housing and Urban Development (HUD) to ensure the safety and habitability of the property. Verifying HQS compliance is crucial because it directly affects your eligibility to participate in the program and receive payments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.