FMR is near market; voucher and private rents are aligned.
1.08
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 37121 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37121 (Mount Juliet, TN) is $1,700 a month. That is up 4.3% from $1,630 in FY 2026. Mount Juliet 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 13 ZIP codes in Wilson County, 37121 is tied for the 4th-highest two-bedroom rent (county range $1,190–$2,280). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37121 is 62% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 37121
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,420
$1,500
+5.6%
$1,350–$1,650
1BR
$1,490
$1,560
+4.7%
$1,404–$1,716
2BR
$1,630
$1,700
+4.3%
$1,530–$1,870
3BR
$2,080
$2,180
+4.8%
$1,962–$2,398
4BR
$2,540
$2,650
+4.3%
$2,385–$2,915
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 37121
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,500
$1,560
$1,700
$2,180
$2,650
FY 2026
$1,420
$1,490
$1,630
$2,080
$2,540
FY 2025
$1,500
$1,560
$1,730
$2,190
$2,690
FY 2024
$1,340
$1,380
$1,550
$1,950
$2,380
FY 2023
$1,190
$1,210
$1,370
$1,710
$2,120
Two-bedroom rent in nearby Wilson County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 37121?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,700, that basic range is $1,530 to $1,870 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 37121 in?
ZIP 37121 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 37121 for FY 2027?
The two-bedroom FMR rose 4.3%, from $1,630 in FY 2026 to $1,700 in FY 2027. Since FY 2023 it has risen 24.1%.
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