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 37933 is located in Knoxville, TN. The exact demographic details such as population, percentage of renters, median income, and median home value are currently not available. However, it is known that the median age in this area is 35.5 years old.
In terms of rental economics, the Fair Market Rent (FMR) for the Housing Choice Voucher Program in ZIP code 37933 for fiscal year 2024 is set at $1280. This figure represents the 40th percentile gross rent for standard-quality units within the area.
Given the lack of precise data on the local market rent, it is difficult to compare the FMR with the actual market conditions. However, based on the FMR alone, this ZIP code could be suitable for both hands-off voucher operators and hands-on value-add buyers. Voucher operators can rely on the FMR to ensure their properties are priced appropriately for Section 8 tenants. For value-add buyers, the potential exists to improve property values and increase rents above the FMR, but this would require detailed analysis of the local housing market.
To make a definitive investment decision, further research into the local rental market trends and property management costs is necessary. The hands-on approach might yield better returns if there is room to improve property standards and increase rents beyond the FMR.
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.