Location: Campbell County, TN | Metro: Campbell County, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP 37762 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR in ZIP 37762 is set at $860, while the Census ACS data indicates a market rent of $469. This means that the FMR exceeds the market rent by $391, which represents a 83.4% increase.
This gap makes ZIP 37762 a prime location for landlords and small-portfolio investors looking to maximize yields through the Section 8 program. Despite the lower market rent, voucher tenants can provide a more stable and consistent source of income, given the guaranteed payment from the government. This scenario contrasts with the broader economic context of ZIP 37762, where 40.2% of residents are renters, the median home value is $122,913, and the median household income is $42,392. These figures suggest that the local economy may benefit from the influx of Section 8 funds, supporting both affordability and investment returns.
However, it is important to note that accepting voucher tenants at rates above the market rent could lead to challenges in attracting and retaining tenants who might prefer lower-cost alternatives. Additionally, the administrative overhead associated with managing Section 8 properties must be considered. Nonetheless, the substantial difference between the FMR and market rent provides a clear opportunity for landlords to achieve better financial outcomes through the program.
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.