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Bedford County/Shelbyville/37161

37161

ZIPFMR
Bedford County, TN
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$850$940
1 BR$1,022$1,120
2 BR$1,112$1,220
3 BR$1,540$1,690
4 BR$1,859$1,970
5 BR$2,138Not available
6 BR$2,459Not available
7 BR$2,827Not available
8 BR$3,251Not available

Purchase Price Calculator

Maximum purchase price
$119,375

Cost breakdown

+Likely effective rent$1,220
HUD FMR$1,112
Market rent$1,640
Est. payment standard (110%)Used$1,220
-Principal and interest-$604
Loan amount$95,500
Down payment$23,875
Rate6.50%
Term30 years
-Operating costs-$416
Property taxes-$119
Insurance-$175
Utilities$0
HOA$0
Management-$122
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,800(82.9% ROI)
Projected value
$128,554
Return breakdown
Property appreciation+$9,179
Loan principal paid down+$3,422
Rental cash flow+$7,200
5-year hold
+$33,788(141.5% ROI)
Projected value
$135,062
Return breakdown
Property appreciation+$15,687
Loan principal paid down+$6,102
Rental cash flow+$12,000
10-year hold
+$71,974(301.5% ROI)
Projected value
$152,810
Return breakdown
Property appreciation+$33,435
Loan principal paid down+$14,539
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.65
1 BR
0.82
2 BR
0.68
3 BR
0.81
4 BR
0.92
0.701.001.30aligned 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 37161 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 37161 (Shelbyville, TN) is $1,112 a month. That is up 9.3% from $1,017 in FY 2026. Shelbyville is in the Bedford County, TN non-metropolitan FMR area. One county-wide FMR applies to every ZIP code in it. The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37161 is 6% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37161
BedroomsFY 2027Change90–110% range
Studio$850+6.8%$765–$935
1BR$1,022+10.1%$920–$1,124
2BR$1,112+9.3%$1,001–$1,223
3BR$1,540+8.9%$1,386–$1,694
4BR$1,859+13.3%$1,673–$2,045

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37161
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$850$1,022$1,112$1,540$1,859
FY 2026$796$928$1,017$1,414$1,641
FY 2025$811$915$1,013$1,350$1,352
FY 2024$835$906$1,017$1,261$1,359
FY 2023$732$737$907$1,104$1,218

Questions about ZIP 37161 rents

How much will Section 8 pay for a two-bedroom in ZIP 37161?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,112, that basic range is $1,001 to $1,223 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 37161 in?

ZIP 37161 is in the Bedford County, TN non-metropolitan FMR area.

How much did fair market rent change in ZIP 37161 for FY 2027?

The two-bedroom FMR rose 9.3%, from $1,017 in FY 2026 to $1,112 in FY 2027. Since FY 2023 it has risen 22.6%.

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 Fair Market Rents. 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 rentShelbyville, TN fair market rentTN statewide rentsWhat is SAFMR?Data sources