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TN/Rutherford County/Shelbyville

Shelbyville, TN

CitySAFMR
Rutherford County
Found 2 ZIPs

City Median Investment Score

78Below average

095130300
BRFMR
Eff. Rent
0 BR$1,040$1,140
1 BR$1,060$1,170
2 BR$1,190$1,310
3 BR$1,550$1,710
4 BR$1,870$1,970
5 BR$2,151Not available
6 BR$2,473Not available
7 BR$2,844Not available
8 BR$3,271Not available

Purchase Price Calculator

Maximum purchase price
$132,749

Cost breakdown

+Likely effective rent$1,310
HUD FMR$1,190
Market rent$1,650
Est. payment standard (110%)Used$1,310
-Principal and interest-$671
Loan amount$106,199
Down payment$26,550
Rate6.50%
Term30 years
-Operating costs-$439
Property taxes-$133
Insurance-$175
Utilities$0
HOA$0
Management-$131
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,212(79.9% ROI)
Projected value
$142,956
Return breakdown
Property appreciation+$10,207
Loan principal paid down+$3,805
Rental cash flow+$7,200
5-year hold
+$36,229(136.5% ROI)
Projected value
$150,193
Return breakdown
Property appreciation+$17,444
Loan principal paid down+$6,785
Rental cash flow+$12,000
10-year hold
+$77,349(291.3% ROI)
Projected value
$169,930
Return breakdown
Property appreciation+$37,181
Loan principal paid down+$16,168
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.83
1 BR
0.86
2 BR
0.72
3 BR
0.84
4 BR
0.93
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

Shelbyville, TN fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Shelbyville, TN is $1,190 a month. That is down 9.8% from $1,320 in FY 2026. Shelbyville is in the Nashville-Davidson--Murfreesboro--Franklin, TN 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 Shelbyville is 14% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Shelbyville, TN
BedroomsFY 2027Change90–110% range
Studio$1,040−9.6%$936–$1,144
1BR$1,060−9.4%$954–$1,166
2BR$1,190−9.8%$1,071–$1,309
3BR$1,550−6.6%$1,395–$1,705
4BR$1,870−7.4%$1,683–$2,057

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Shelbyville, TN
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,040$1,060$1,190$1,550$1,870
FY 2026$1,150$1,170$1,320$1,660$2,020
FY 2025$1,270$1,300$1,460$1,840$2,240
FY 2024$1,350$1,390$1,560$1,960$2,390
FY 2023$1,170$1,200$1,350$1,690$2,090

Questions about Shelbyville, TN rents

How much will Section 8 pay for a two-bedroom in Shelbyville, TN?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,190, that basic range is $1,071 to $1,309 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 Shelbyville, TN in?

Shelbyville, TN is in the Nashville-Davidson--Murfreesboro--Franklin, TN 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 Shelbyville, TN for FY 2027?

The two-bedroom FMR fell 9.8%, from $1,320 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has fallen 11.9%.

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