Davidson County/Nashville/37205

37205

ZIPSAFMR

Davidson County, TN

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ZIP Investment Score

44Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,990	$1,450	3.8%
1 BR	$2,070	$1,780	4.2%
2 BR	$2,260	$2,130	3.3%
3 BR	$2,900	$2,910	4.0%
4 BR	$3,520	$3,870	3.9%
5 BR	$4,048	Not available	3.9%
6 BR	$4,655	Not available	3.9%
7 BR	$5,353	Not available	3.9%
8 BR	$6,157	Not available	3.9%

Purchase Price Calculator

Maximum purchase price

$254,601

Cost breakdown

+Likely effective rent$2,130

HUD FMR$2,260

Market rentUsed$2,130

Est. payment standard (96%)$2,180

-Principal and interest-$1,287

Loan amount$203,681

Down payment$50,920

Rate6.50%

Term30 years

-Operating costs-$643

Property taxes-$255

Insurance-$175

Utilities$0

HOA$0

Management-$213

=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

+$34,074(66.9% ROI)

Projected value

$274,177

Return breakdown

Property appreciation+$19,576

Loan principal paid down+$7,297

Rental cash flow+$7,200

5-year hold

+$58,470(114.8% ROI)

Projected value

$288,057

Return breakdown

Property appreciation+$33,457

Loan principal paid down+$13,013

Rental cash flow+$12,000

10-year hold

+$126,318(248.1% ROI)

Projected value

$325,910

Return breakdown

Property appreciation+$71,310

Loan principal paid down+$31,008

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.37ratio

FMR$1,990

Market$1,450

vs market+$540

FMR is above market; underwrite to market rent.

1.37

1 BR

1.16ratio

FMR$2,070

Market$1,780

vs market+$290

FMR is above market; underwrite to market rent.

1.16

2 BR

1.06ratio

FMR$2,260

Market$2,130

vs market+$130

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

1.06

3 BR

1.00ratio

FMR$2,900

Market$2,910

vs market-$10

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

1.00

4 BR

0.70ratio

FMR$3,520

Market$5,020

vs market-$1,500

FMR is below market; voucher rent may lag private rents.

0.70

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 37205 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 37205 (Nashville, TN) is $2,260 a month. That is up 1.3% from $2,230 in FY 2026. Nashville 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, 37205 has the 7th-highest two-bedroom rent (county range $1,210–$2,700). The median county two-bedroom FMR in Tennessee is $1,048, so ZIP 37205 is 116% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 37205
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,940	$1,990	+2.6%	$1,791–$2,189
1BR	$2,030	$2,070	+2.0%	$1,863–$2,277
2BR	$2,230	$2,260	+1.3%	$2,034–$2,486
3BR	$2,850	$2,900	+1.8%	$2,610–$3,190
4BR	$3,470	$3,520	+1.4%	$3,168–$3,872

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 37205
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,990	$2,070	$2,260	$2,900	$3,520
FY 2026	$1,940	$2,030	$2,230	$2,850	$3,470
FY 2025	$2,070	$2,150	$2,380	$3,010	$3,700
FY 2024	$1,780	$1,830	$2,050	$2,580	$3,140
FY 2023	$1,520	$1,560	$1,760	$2,200	$2,720

Two-bedroom rent in nearby Davidson County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 37205
37201	$2,340	+3.5%
37202	$1,840	−18.6%
37203	$2,140	−5.3%
37204	$2,300	+1.8%
37205Current	$2,260	—
37206	$1,870	−17.3%
37207	$1,500	−33.6%
37208	$1,940	−14.2%
37209	$2,030	−10.2%
37210	$1,660	−26.5%
37211	$1,860	−17.7%
37212	$1,890	−16.4%

Questions about ZIP 37205 rents

How much will Section 8 pay for a two-bedroom in ZIP 37205?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,260, that basic range is $2,034 to $2,486 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 37205 in?

ZIP 37205 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 37205 for FY 2027?

The two-bedroom FMR rose 1.3%, from $2,230 in FY 2026 to $2,260 in FY 2027. Since FY 2023 it has risen 28.4%.

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