Location: Cocke County, TN | Metro: Cocke County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 377753 is located in a neighborhood characterized by a relatively small population of 917 residents, indicating a tight-knit community environment. With 38.8% of the population being renters, there's a notable demand for rental properties. The median income in this area stands at $49,375, suggesting that it is a middle-income neighborhood. The median home value is $219,678, which reflects the overall property values in the area.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950. However, the lack of available data on market rents makes it difficult to compare the FMR to actual market conditions. This gap in information could imply either stability in rental pricing or a potential underreporting of rental activity.
Given these figures, ZIP 37753 is more suited for a hands-off voucher operator rather than a hands-on value-add buyer. The high percentage of renters indicates a steady demand for affordable housing, aligning well with the Section 8 program. Landlords can rely on the government to cover a significant portion of their rent through vouchers, making the investment less risky and more predictable. The absence of market rent data suggests that there might not be enough fluctuation or growth potential in the rental market to justify the additional effort required by a value-add buyer who seeks to improve and then resell properties for profit. Instead, a hands-off approach focusing on maintaining a consistent cash flow would be more appropriate for this ZIP code.
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.