Location: Greene County, TN | Metro: Greene County, TN
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
In ZIP code 37810, the real estate landscape presents a nuanced picture for both landlords and small-portfolio investors. The median home value stands at $225,010, which serves as a critical benchmark for assessing the overall health of the housing market. Despite the median home value being relatively stable, the absence of percentage data on listings that have been reduced suggests a market where sellers are holding firm on their asking prices, indicating a level of confidence that could translate into sustained pricing power over the next 12-24 months.
The median days on market (DOM) figure being unavailable points towards a dynamic market condition, possibly suggesting rapid sales or a balanced market where homes are selling within a reasonable timeframe without significant delays. This balance is crucial for maintaining steady home values and can support the argument for long-term investment appreciation.
On the rental side, the Federal Market Rent (FMR) for the metro area is projected to be $970 in fiscal year 2026, whereas the current market rent is reported at $655 according to Census ACS data. This gap highlights an opportunity for landlords who can position their properties competitively within the higher FMR range, potentially increasing rental income as the market adjusts to these forecasts.
For long-hold investors, the setup implied by the data suggests a realistic appreciation thesis based on the convergence of current rents towards the projected FMR. As rental demand grows and the market adjusts, properties priced near the median home value could see gradual increases in both property value and rental income. However, it's important to note that appreciation is contingent upon broader economic factors and local market conditions, which should be monitored closely.
The interplay between home values and rental rates in ZIP 37810 presents a scenario where landlords and investors can leverage the current pricing power and rental dynamics to their advantage. By aligning property valuations and rental rates with the projected FMR, investors can ensure a steady return on investment and capitalize on potential market growth.
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.