Williamson County/Franklin/37069

37069

ZIPSAFMR

Williamson County, TN

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ZIP Investment Score

60Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$2,260	$1,520	2.3%
1 BR	$2,350	$1,420	2.9%
2 BR	$2,560	$2,420	1.8%
3 BR	$3,290	$2,820	2.6%
4 BR	$3,990	$3,320	2.3%
5 BR	$4,589	Not available	2.3%
6 BR	$5,277	Not available	2.3%
7 BR	$6,068	Not available	2.3%
8 BR	$6,979	Not available	2.3%

Purchase Price Calculator

Maximum purchase price

$297,695

Cost breakdown

+Likely effective rent$2,420

HUD FMR$2,560

Market rentUsed$2,420

Est. payment standard (96%)$2,470

-Principal and interest-$1,505

Loan amount$238,156

Down payment$59,539

Rate6.50%

Term30 years

-Operating costs-$715

Property taxes-$298

Insurance-$175

Utilities$0

HOA$0

Management-$242

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$38,622(64.9% ROI)

Projected value

$320,584

Return breakdown

Property appreciation+$22,890

Loan principal paid down+$8,533

Rental cash flow+$7,200

5-year hold

+$66,335(111.4% ROI)

Projected value

$336,814

Return breakdown

Property appreciation+$39,120

Loan principal paid down+$15,216

Rental cash flow+$12,000

10-year hold

+$143,636(241.2% ROI)

Projected value

$381,074

Return breakdown

Property appreciation+$83,380

Loan principal paid down+$36,257

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.49ratio

FMR$2,260

Market$1,520

vs market+$740

FMR is above market; underwrite to market rent.

1.49

1 BR

1.65ratio

FMR$2,350

Market$1,420

vs market+$930

FMR is above market; underwrite to market rent.

1.65

2 BR

1.06ratio

FMR$2,560

Market$2,420

vs market+$140

FMR is near market; voucher and private rents are aligned.

1.06

3 BR

1.17ratio

FMR$3,290

Market$2,820

vs market+$470

FMR is above market; underwrite to market rent.

1.17

4 BR

1.20ratio

FMR$3,990

Market$3,320

vs market+$670

FMR is above market; underwrite to market rent.

1.20

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: --

ZIP 37069 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37069 (Franklin, TN) is $2,560 a month. That is down 1.5% from $2,600 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 19 ZIP codes in Williamson County, 37069 has the 2nd-highest two-bedroom rent (county range $1,190–$2,700). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37069 is 144% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37069
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$2,260	$2,260	0.0%	$2,034–$2,486
1BR	$2,370	$2,350	−0.8%	$2,115–$2,585
2BR	$2,600	$2,560	−1.5%	$2,304–$2,816
3BR	$3,320	$3,290	−0.9%	$2,961–$3,619
4BR	$4,050	$3,990	−1.5%	$3,591–$4,389

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37069
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$2,260	$2,350	$2,560	$3,290	$3,990
FY 2026	$2,260	$2,370	$2,600	$3,320	$4,050
FY 2025	$2,380	$2,470	$2,740	$3,460	$4,260
FY 2024	$2,110	$2,160	$2,430	$3,050	$3,730
FY 2023	$1,830	$1,870	$2,110	$2,640	$3,260

Two-bedroom rent in nearby Williamson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 37069
37014	$2,320	−9.4%
37025	$1,190	−53.5%
37027	$2,500	−2.3%
37046	$1,930	−24.6%
37060	$1,640	−35.9%
37062	$1,620	−36.7%
37064	$2,230	−12.9%
37065	$2,300	−10.2%
37067	$2,270	−11.3%
37068	$2,300	−10.2%
37069Current	$2,560	—
37082	$1,580	−38.3%

Questions about ZIP 37069 rents

How much will Section 8 pay for a two-bedroom in ZIP 37069?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,560, that basic range is $2,304 to $2,816 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 37069 in?

ZIP 37069 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 37069 for FY 2027?

The two-bedroom FMR fell 1.5%, from $2,600 in FY 2026 to $2,560 in FY 2027. Since FY 2023 it has risen 21.3%.

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 rent Franklin, TN fair market rent TN statewide rents What is SAFMR?Data sources