Location: Knoxville, TN | Metro: Knoxville, TN HUD Metro FMR Area
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 | $1,380 |
| 1 Bedroom | $1,390 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,390 | $193,332 | 0.72% | D |
| 2BR | $1,740 | $275,860 | 0.63% | D |
| 3BR | $2,180 | $487,287 | 0.45% | F |
| 4BR | $2,500 | $839,207 | 0.3% | F |
| 5BR | $2,900 | $1,427,433 | 0.2% | F |
U.S. Census Bureau data (2024)
The ZIP code 37919 in Knoxville, TN, is characterized by a substantial rental population. With 46.3% of the 31,754 residents being renters, it indicates a significant portion of the community relies on rental housing. This makes the area potentially attractive for landlords and small-portfolio investors looking to cater to a sizeable tenant pool.
The market rent in this area stands at $1,578 per month, which represents a considerable expense relative to the median household income of $72,645. To put this into perspective, the annual cost of renting at this rate amounts to approximately $18,936, which is about 26% of the median household income. This suggests that a portion of the population might find it challenging to afford market rents without assistance.
Comparing the market rent to the Fair Market Rent (FMR) of $1,350 (for FY 2024), there is a notable gap. The market rent is $228 higher than the FMR, indicating that landlords could be charging above the federally determined fair rent levels. However, the presence of Section 8 vouchers can help bridge this affordability gap for low-income tenants.
Given the high percentage of renters and the relatively high market rent compared to the median income, it is likely that there is deep voucher demand in this area. Landlords in ZIP 37919 should expect a tenant profile that includes a significant number of individuals and families who rely on Section 8 vouchers to secure affordable housing. These tenants typically have a household income below 50% of the area median, meaning their incomes would be less than $36,323 in this case.
To summarize, the profile of ZIP 37919 points towards a renter-heavy environment with a strong need for subsidized housing through Section 8 vouchers. Landlords should prepare for a tenant base that largely depends on financial assistance to meet housing costs.
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.