Location: Grainger County, TN | Metro: Knoxville, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
1050 is the Fair Market Rent (FMR) for ZIP code 37888 as of fiscal year 2024, indicating the maximum amount a landlord can charge for a rental unit under the Section 8 program. 907 is the average market rent reported by the Census Bureau's American Community Survey (ACS), suggesting that properties meeting the FMR criteria are priced above the local average. 242,863 represents the median home value in the area, which is a critical figure for determining potential property investments. 21.3% is the percentage of households that are renters, reflecting a significant demand for rental properties in ZIP 37888. 45,669 is the median income level, providing insight into the financial capacity of the residents. While N/A indicates that there is no available data on days on market (DOM) or the percentage of price-cut shares, these missing metrics do not detract from the overall investment potential of the area. The difference between the FMR and the market rent suggests a positive margin for landlords participating in the Section 8 program. With a higher median home value and a notable renter population, the area presents opportunities for steady rental income. However, the lack of specific data on DOM and price-cut shares means landlords must be prepared for potential fluctuations in the local real estate market. Given the favorable FMR and market rent comparison, along with the substantial median home value, landlords and small-portfolio investors should consider ZIP 37888 as a viable option for Section 8 participation.
Based on the available data, the verdict for Section 8 participation in ZIP 37888 is positive, with a strong potential for stable rental income.
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.