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Smith County/Carthage/37030

37030

ZIPSAFMR
Smith County, TN
Zillow

ZIP Investment Score

63Below average

095130300
BRFMR
Eff. Rent
0 BR$900$990
1 BR$910$1,000
2 BR$1,190$1,290
3 BR$1,460$1,510
4 BR$1,560$1,610
5 BR$1,794Not available
6 BR$2,063Not available
7 BR$2,373Not available
8 BR$2,728Not available

Purchase Price Calculator

Maximum purchase price
$129,777

Cost breakdown

+Likely effective rent$1,290
HUD FMR$1,190
Market rent$1,340
Est. payment standard (108%)Used$1,290
-Principal and interest-$656
Loan amount$103,822
Down payment$25,955
Rate6.50%
Term30 years
-Operating costs-$434
Property taxes-$130
Insurance-$175
Utilities$0
HOA$0
Management-$129
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,898(80.5% ROI)
Projected value
$139,756
Return breakdown
Property appreciation+$9,979
Loan principal paid down+$3,720
Rental cash flow+$7,200
5-year hold
+$35,687(137.5% ROI)
Projected value
$146,831
Return breakdown
Property appreciation+$17,054
Loan principal paid down+$6,633
Rental cash flow+$12,000
10-year hold
+$76,154(293.4% ROI)
Projected value
$166,126
Return breakdown
Property appreciation+$36,349
Loan principal paid down+$15,806
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.71
1 BR
0.75
2 BR
0.89
3 BR
0.95
4 BR
0.96
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 37030 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37030 (Carthage, TN) is $1,190 a month. That is up 13.3% from $1,050 in FY 2026. Carthage is in the Smith County, 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 $1,146. Among 16 ZIP codes in Smith County, 37030 is tied for the 5th-highest two-bedroom rent (county range $1,000–$1,700). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37030 is 14% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37030
BedroomsFY 2027Change90–110% range
Studio$900+13.9%$810–$990
1BR$910+13.8%$819–$1,001
2BR$1,190+13.3%$1,071–$1,309
3BR$1,460+6.6%$1,314–$1,606
4BR$1,560+12.2%$1,404–$1,716

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37030
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$900$910$1,190$1,460$1,560
FY 2026$790$800$1,050$1,370$1,390
FY 2025$760$760$1,000$1,320$1,330
FY 2024$590$660$860$1,150$1,150
FY 2023$510$570$750$980$1,040

Two-bedroom rent in nearby Smith County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 37030
37012$1,1900.0%
37030Current$1,190—
37057$1,310+10.1%
37074$1,1900.0%
37087$1,400+17.6%
37090$1,700+42.9%
37145$1,000−16.0%
37151$1,220+2.5%
37184$1,1900.0%
38547$1,060−10.9%
38548$1,030−13.4%
38552$1,150−3.4%

Questions about ZIP 37030 rents

How much will Section 8 pay for a two-bedroom in ZIP 37030?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,146, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,031 to $1,261 a month; under the ZIP-level Small Area FMR of $1,190 it would be $1,071 to $1,309. 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 ZIP 37030 in?

ZIP 37030 is in the Smith County, TN HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,146.

How much did fair market rent change in ZIP 37030 for FY 2027?

The two-bedroom FMR rose 13.3%, from $1,050 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 58.7%.

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

County fair market rentCarthage, TN fair market rentTN statewide rentsWhat is SAFMR?Data sources