Location: Grainger County, TN | Metro: Knoxville, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The rent math for ZIP 37848 in Grainger County, TN, does not work in favor of landlords based on the available data. The Fair Market Rent (FMR) for the area is set at $1050 per month for fiscal year 2024. However, the market rent is listed as N/A, which suggests that there isn't sufficient data to determine if the FMR aligns with what tenants are willing to pay. This uncertainty can be risky for landlords who need to ensure their rental properties generate enough income.
Regarding the affordability of acquisition, the median home value in ZIP 37848 is $248,397. With no information provided on the average days on market (DOM) or the percentage of homes that have been discounted, it's difficult to gauge how competitive the housing market is for potential acquisitions. Without these metrics, landlords cannot accurately assess whether they will find good deals on property purchases.
Tenant demand is another critical factor, and the data here is particularly concerning. The total population of the ZIP code is only 145, and the renter share is an alarming 0.0%. This indicates that virtually no one in the area rents their living space, suggesting a very limited pool of potential tenants for any rental property. Landlords looking to enter this market would face significant challenges in finding and retaining tenants.
In summary, ZIP 37848 presents several obstacles for landlords and small-portfolio investors. The lack of reliable market rent data makes it hard to predict profitability, while the low median home value offers some promise for acquisition but is marred by insufficient details on market competitiveness. Most critically, the near absence of renters in the area points to a severe deficiency in tenant demand, making it a poor choice for investment in rental properties.
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.