Location: Meigs County, TN | Metro: McMinn County, TN
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 | $780 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $300,216 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 37826 presents a dynamic rental market with strong indications that demand is outpacing supply. The Fair Market Rent (FMR) set at $970 for the fiscal year 2026, while the actual market rent as per the Census ACS stands at $826. This suggests that the rental prices are below the benchmark established by the government, which often points to a competitive environment where landlords must offer rents that tenants can afford. The low price-cut share of 0.3% further supports this, indicating that landlords rarely need to reduce their asking prices to attract tenants, a sign of steady demand.
The median home value of $271,874 provides context on the overall cost of living and property values in the area. However, the lack of data on days on market (DOM) for rentals means we cannot directly assess how quickly units are being filled, though the low price-cut share implies a brisk pace.
A noteworthy statistic is the 13.9% renter share, which is relatively low. This indicates that the majority of residents in ZIP 37826 prefer homeownership over renting. While this might seem to suggest less pressure on the rental market, it actually points to a long-term trend of housing scarcity. As more people choose to buy homes, the pool of available rental properties decreases, leading to increased competition among renters and potential upward pressure on rental prices when supply tightens.
In summary, the market in ZIP 37826 is characterized by a rental sector that is currently underpriced relative to the government's FMR but is supported by strong demand. The low renter share hints at a future where the balance between supply and demand could shift, creating an environment where rental prices might rise if the trend towards homeownership continues. Landlords and small-portfolio investors should be prepared for these dynamics, focusing on maintaining competitive rents and ensuring their properties remain attractive to tenants.
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.