FMR is below market; voucher rent may lag private rents.
0.69
1 BR
1 BR- 38358
0.76ratio
FMR$760
Market$1,000
vs market-$240
FMR is below market; voucher rent may lag private rents.
0.76
2 BR
2 BR- 38358
0.93ratio
FMR$1,000
Market$1,070
vs market-$70
FMR is near market; voucher and private rents are aligned.
0.93
3 BR
3 BR- 38358
1.27ratio
FMR$1,380
Market$1,090
vs market+$290
FMR is above market; underwrite to market rent.
1.27
4 BR
4 BR- 38358
1.26ratio
FMR$1,580
Market$1,250
vs market+$330
FMR is above market; underwrite to market rent.
1.26
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
--
Milan, TN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Milan, TN is $1,000 a month. That is up 7.5% from $930 in FY 2026. Milan is in the Carroll 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 $995. The median county two-bedroom FMR in Tennessee is $1,048, so Milan is 5% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Milan, TN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$650
$700
+7.7%
$630–$770
1BR
$710
$760
+7.0%
$684–$836
2BR
$930
$1,000
+7.5%
$900–$1,100
3BR
$1,290
$1,380
+7.0%
$1,242–$1,518
4BR
$1,560
$1,580
+1.3%
$1,422–$1,738
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Milan, TN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$700
$760
$1,000
$1,380
$1,580
FY 2026
$650
$710
$930
$1,290
$1,560
FY 2025
$670
$700
$900
$1,260
$1,510
FY 2024
$650
$720
$860
$1,210
$1,460
FY 2023
$560
$600
$750
$1,040
$1,270
Questions about Milan, TN rents
How much will Section 8 pay for a two-bedroom in Milan, TN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $995, which applies unless the housing authority uses Small Area FMRs, that basic range is $896 to $1,095 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 Milan, TN in?
Milan, TN is in the Carroll County, TN non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $995.
How much did fair market rent change in Milan, TN for FY 2027?
The two-bedroom FMR rose 7.5%, from $930 in FY 2026 to $1,000 in FY 2027. Since FY 2023 it has risen 33.3%.
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