Location: Knoxville, TN | Metro: Knoxville, TN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,220 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
The ZIP code 37928 is located in Knoxville, Tennessee, and it does not represent a traditional neighborhood or town. Instead, it is a PO Box ZIP code assigned to a single building complex on Lynnwood Drive in north Knoxville. This area consists solely of a business location with 293 PO boxes and 272 business delivery points, meaning there is no residential population here.
Due to the lack of residential data, specific figures such as the percentage of renters, median income, and median home value are unavailable. However, it is important to note that this ZIP code is primarily used for commercial purposes, which significantly impacts its suitability for real estate investments aimed at housing.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP code 37928 as of fiscal year 2024 is set at $1280. This figure represents the benchmark used by the U.S. Department of Housing and Urban Development (HUD) for determining rental assistance payments under the Section 8 program. The absence of market rent data suggests that traditional residential rental properties do not exist within this ZIP code, making it unsuitable for conventional rental analysis.
In conclusion, ZIP code 37928 is best suited for a hands-off voucher operator rather than a hands-on value-add buyer. The nature of the ZIP code as a PO Box assignment means that any investment strategy should focus on commercial properties and the unique opportunities they present, rather than residential real estate. The FMR of $1280 provides a clear guideline for potential rental assistance payments but does not reflect typical market conditions due to the non-residential character of the ZIP code.
Data Sources: FMR data from HUD (2027).
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.