FMR is below market; voucher rent may lag private rents.
0.72
1 BR
1 BR- 37318
0.70ratio
FMR$760
Market$1,080
vs market-$320
FMR is below market; voucher rent may lag private rents.
0.70
2 BR
2 BR- 37318
0.83ratio
FMR$1,000
Market$1,210
vs market-$210
FMR is below market; voucher rent may lag private rents.
0.83
3 BR
3 BR- 37318
0.89ratio
FMR$1,320
Market$1,490
vs market-$170
FMR is below market; voucher rent may lag private rents.
0.89
4 BR
4 BR- 37318
0.99ratio
FMR$1,660
Market$1,680
vs market-$20
FMR is near market; voucher and private rents are aligned.
0.99
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Cowan, TN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Cowan, TN is $1,000 a month. That is up 7.5% from $930 in FY 2026. Cowan is in the Franklin County, TN non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,060. The median county two-bedroom FMR in Tennessee is $1,048, so Cowan is 5% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Cowan, TN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$700
$760
+8.6%
$684–$836
1BR
$700
$760
+8.6%
$684–$836
2BR
$930
$1,000
+7.5%
$900–$1,100
3BR
$1,230
$1,320
+7.3%
$1,188–$1,452
4BR
$1,530
$1,660
+8.5%
$1,494–$1,826
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Cowan, TN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$760
$760
$1,000
$1,320
$1,660
FY 2026
$700
$700
$930
$1,230
$1,530
FY 2025
$680
$690
$900
$1,180
$1,430
FY 2024area FMR
$731
$735
$909
$1,175
$1,384
FY 2023area FMR
$623
$629
$764
$1,020
$1,158
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Cowan, TN rents
How much will Section 8 pay for a two-bedroom in Cowan, TN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,060, which applies unless the housing authority uses Small Area FMRs, that basic range is $954 to $1,166 a month; under the ZIP-level Small Area FMR of $1,000 it would be $900 to $1,100. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Cowan, TN in?
Cowan, TN is in the Franklin County, TN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,060.
How much did fair market rent change in Cowan, TN for FY 2027?
The two-bedroom FMR rose 7.5%, from $930 in FY 2026 to $1,000 in FY 2027. Since FY 2025 it has risen 11.1%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set