FMR is below market; voucher rent may lag private rents.
0.60
1 BR
1 BR- 37820
0.63ratio
FMR$900
Market$1,440
vs market-$540
FMR is below market; voucher rent may lag private rents.
0.63
2 BR
2 BR- 37820
0.75ratio
FMR$1,140
Market$1,530
vs market-$390
FMR is below market; voucher rent may lag private rents.
0.75
3 BR
3 BR- 37820
0.74ratio
FMR$1,390
Market$1,870
vs market-$480
FMR is below market; voucher rent may lag private rents.
0.74
4 BR
4 BR- 37820
0.91ratio
FMR$1,820
Market$1,990
vs market-$170
FMR is near market; voucher and private rents are aligned.
0.91
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
--
New Market, TN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in New Market, TN is $1,140 a month. That is up 9.6% from $1,040 in FY 2026. New Market is in the Morristown, TN HUD Metro 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 metro-wide two-bedroom FMR of $1,153. The median county two-bedroom FMR in Tennessee is $1,048, so New Market is 9% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for New Market, TN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$810
$900
+11.1%
$810–$990
1BR
$860
$900
+4.7%
$810–$990
2BR
$1,040
$1,140
+9.6%
$1,026–$1,254
3BR
$1,360
$1,390
+2.2%
$1,251–$1,529
4BR
$1,670
$1,820
+9.0%
$1,638–$2,002
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for New Market, TN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$900
$900
$1,140
$1,390
$1,820
FY 2026
$810
$860
$1,040
$1,360
$1,670
FY 2025
$760
$810
$980
$1,270
$1,540
FY 2024
$660
$670
$860
$1,160
$1,390
FY 2023
$570
$570
$750
$1,020
$1,170
Questions about New Market, TN rents
How much will Section 8 pay for a two-bedroom in New Market, TN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,153, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,038 to $1,268 a month; under the ZIP-level Small Area FMR of $1,140 it would be $1,026 to $1,254. 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 New Market, TN in?
New Market, TN is in the Morristown, TN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,153.
How much did fair market rent change in New Market, TN for FY 2027?
The two-bedroom FMR rose 9.6%, from $1,040 in FY 2026 to $1,140 in FY 2027. Since FY 2023 it has risen 52.0%.
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