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Davidson County/Franklin/37064

37064

ZIPSAFMR
Davidson County, TN
Zillow

ZIP Investment Score

63Below average

095130300
BRFMR
Eff. Rent
0 BR$1,970$1,920
1 BR$2,050$2,150
2 BR$2,230$2,450
3 BR$2,860$3,150
4 BR$3,470$3,820
5 BR$3,990Not available
6 BR$4,589Not available
7 BR$5,277Not available
8 BR$6,069Not available

Purchase Price Calculator

Maximum purchase price
$302,153

Cost breakdown

+Likely effective rent$2,450
HUD FMR$2,230
Market rent$2,780
Est. payment standard (110%)Used$2,450
-Principal and interest-$1,528
Loan amount$241,722
Down payment$60,431
Rate6.50%
Term30 years
-Operating costs-$722
Property taxes-$302
Insurance-$175
Utilities$0
HOA$0
Management-$245
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$39,093(64.7% ROI)
Projected value
$325,385
Return breakdown
Property appreciation+$23,233
Loan principal paid down+$8,660
Rental cash flow+$7,200
5-year hold
+$67,149(111.1% ROI)
Projected value
$341,858
Return breakdown
Property appreciation+$39,705
Loan principal paid down+$15,444
Rental cash flow+$12,000
10-year hold
+$145,428(240.7% ROI)
Projected value
$386,781
Return breakdown
Property appreciation+$84,628
Loan principal paid down+$36,799
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.03
1 BR
0.93
2 BR
0.80
3 BR
0.79
4 BR
0.69
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 37064 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37064 (Franklin, TN) is $2,230 a month. That is up 3.7% from $2,150 in FY 2026. Franklin 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. Among 49 ZIP codes in Davidson County, 37064 is tied for the 9th-highest two-bedroom rent (county range $1,210–$2,700). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37064 is 113% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37064
BedroomsFY 2027Change90–110% range
Studio$1,970+5.3%$1,773–$2,167
1BR$2,050+4.6%$1,845–$2,255
2BR$2,230+3.7%$2,007–$2,453
3BR$2,860+4.0%$2,574–$3,146
4BR$3,470+3.6%$3,123–$3,817

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37064
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,970$2,050$2,230$2,860$3,470
FY 2026$1,870$1,960$2,150$2,750$3,350
FY 2025$1,980$2,060$2,280$2,880$3,540
FY 2024$1,740$1,790$2,010$2,530$3,080
FY 2023$1,510$1,540$1,740$2,180$2,690

Two-bedroom rent in nearby Davidson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 37064
37013$1,920−13.9%
37015$1,540−30.9%
37024$1,840−17.5%
37027$2,500+12.1%
37064Current$2,230—
37070$1,840−17.5%
37072$1,660−25.6%
37073$1,360−39.0%
37076$1,840−17.5%
37080$1,210−45.7%
37086$2,080−6.7%
37115$1,670−25.1%

Questions about ZIP 37064 rents

How much will Section 8 pay for a two-bedroom in ZIP 37064?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,230, that basic range is $2,007 to $2,453 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 ZIP 37064 in?

ZIP 37064 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 ZIP 37064 for FY 2027?

The two-bedroom FMR rose 3.7%, from $2,150 in FY 2026 to $2,230 in FY 2027. Since FY 2023 it has risen 28.2%.

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