FMR is below market; voucher rent may lag private rents.
0.77
1 BR
1 BR- 38036
0.77ratio
FMR$1,620
Market$2,100
vs market-$480
FMR is below market; voucher rent may lag private rents.
0.77
2 BR
2 BR- 38036
1.01ratio
FMR$1,780
Market$1,760
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.01
3 BR
3 BR- 38036
1.22ratio
FMR$2,350
Market$1,920
vs market+$430
FMR is above market; underwrite to market rent.
1.22
4 BR
4 BR- 38036
1.05ratio
FMR$2,700
Market$2,560
vs market+$140
FMR is near market; voucher and private rents are aligned.
1.05
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
--
Gallaway, TN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Gallaway, TN is $1,780 a month. That is unchanged from FY 2026. Gallaway is in the Memphis, TN-MS-AR HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Tennessee is $1,048, so Gallaway is 70% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Gallaway, TN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,480
$1,500
+1.4%
$1,350–$1,650
1BR
$1,610
$1,620
+0.6%
$1,458–$1,782
2BR
$1,780
$1,780
0.0%
$1,602–$1,958
3BR
$2,350
$2,350
0.0%
$2,115–$2,585
4BR
$2,740
$2,700
−1.5%
$2,430–$2,970
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Gallaway, TN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,500
$1,620
$1,780
$2,350
$2,700
FY 2026
$1,480
$1,610
$1,780
$2,350
$2,740
FY 2025
$1,480
$1,610
$1,810
$2,390
$2,800
FY 2024
$720
$820
$930
$1,230
$1,430
FY 2023
$630
$720
$830
$1,100
$1,270
Questions about Gallaway, TN rents
How much will Section 8 pay for a two-bedroom in Gallaway, TN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,780, that basic range is $1,602 to $1,958 a month. 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 Gallaway, TN in?
Gallaway, TN is in the Memphis, TN-MS-AR HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Gallaway, TN for FY 2027?
The two-bedroom FMR was unchanged at $1,780 in FY 2027. Since FY 2023 it has risen 114.5%.
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