Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Spencer, TN fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Spencer, TN is $1,000 a month. That is up 3.1% from $970 in FY 2026. Spencer is in the Chattanooga, TN-GA MSA, 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 Spencer is 5% below it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Spencer, TN
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$740
$760
+2.7%
$684–$836
1BR
$750
$770
+2.7%
$693–$847
2BR
$970
$1,000
+3.1%
$900–$1,100
3BR
$1,260
$1,200
−4.8%
$1,080–$1,320
4BR
$1,350
$1,370
+1.5%
$1,233–$1,507
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Spencer, TN
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$760
$770
$1,000
$1,200
$1,370
FY 2026
$740
$750
$970
$1,260
$1,350
FY 2025
$700
$710
$910
$1,210
$1,270
FY 2024
$770
$780
$890
$1,130
$1,280
FY 2023
$750
$760
$880
$1,130
$1,340
Questions about Spencer, TN rents
How much will Section 8 pay for a two-bedroom in Spencer, TN?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,000, that basic range is $900 to $1,100 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 Spencer, TN in?
Spencer, TN is in the Chattanooga, TN-GA MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Spencer, TN for FY 2027?
The two-bedroom FMR rose 3.1%, from $970 in FY 2026 to $1,000 in FY 2027. Since FY 2023 it has risen 13.6%.
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