Location: Cocke County, TN | Metro: Cocke 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 | $760 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,320 | $351,360 | 0.38% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 37843 presents a nuanced landscape that both landlords and small-portfolio investors should consider carefully. With a median home value set at $299,444, the area stands as a moderate-priced market, offering opportunities for investment and rental income.
The data indicates a situation where no listings have been reduced, suggesting a stable pricing environment without downward pressure. However, the median days on market (DOM) being unavailable points to either an exceptionally quick selling environment or a market with very few transactions, making it difficult to gauge the exact pace of sales activity. This stability in pricing combined with potentially brisk sales could imply strong pricing power for the next 12-24 months, allowing property owners to maintain or slightly increase their asking prices.
On the rental side, the forward market rate (FMR) for ZIP 37843 is projected at $940 for the fiscal year 2026, while the current market rate, based on Census ACS data, is $728. The gap between the FMR and the current market rate suggests potential upward pressure on rents in the coming years. Investors looking to hold properties long-term can anticipate a gradual increase in rental income, aligning with the expected rise in FMRs.
The setup the data implies is a market with moderate appreciation potential. While the median home value is relatively stable, the increasing FMR signals that the cost of renting is expected to rise, which can translate into higher property values as demand for ownership increases relative to renting costs. For landlords, this means maintaining or slightly raising rent levels to stay competitive and profitable, while small-portfolio investors might see modest capital gains over time.
In summary, the combination of a stable median home value, no reductions in listing prices, and the growing disparity between current rents and future market rates in ZIP 37843 supports a scenario where pricing power remains strong. Long-term investors should expect a realistic appreciation thesis, albeit at a measured pace, as the rental market dynamics suggest an environment conducive to steady growth in property values.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.